Cahaya sees rising profits

JAKARTA (JP): Publicly listed Cahaya Kalbar, the country's largest producer of specialty fats, booked a Rp 17 billion (US$7.33 million) net profit last year and expects to see this rise more than 44 percent to Rp 24.5 billion this year.

The company stated yesterday that last year's net profit was slightly higher than its revised projection of Rp 16.8 billion.

Its initial projection prior to its listing on the capital market last July was Rp 11.5 billion.

Without mentioning its total sales, the company said it was optimistic that its net profit target of Rp 24.5 billion would be achieved this year.

The company plans to spend $2 million this year buying two ships to transport its raw materials and finished goods, and $500 thousand to conduct biotechnological research on enzymatic technology for edible oil and fats.

It also plans to build a plant to produce low calorie and sugar-free chocolate, and increase its production capacity for specialty fats, which are widely used as a substitute for cocoa fat in chocolate. (bnt)