Clipan to pay dividends

Clipan to pay dividends

JAKARTA (JP): PT Clipan Finance Indonesia, a publicly-listed multifinance company, announced here yesterday that its shareholders had approved the distribution of 1994 dividends of Rp 150 each and a bonus share for every two existing shares.

The company said in a statement that the dividends will be 47 percent higher than the previous year.

The company reported that its net profit increased by 53 percent to Rp 4.8 billion last year, while its assets grew by 43 percent to Rp 353 billion as of last December.

The company, owned 59.8 percent by Credit Lyonnais Leasing Overseas of Hong Kong, 20.9 percent by the Panin Group and 19.3 by the investing public, has interests in leasing, consumer finance and factoring.

It said that the company secured a 25-month syndicated loan of US$78 million from banks in Hong Kong and Singapore last December.

The company currently has a nine-office network, including one opened last April in Ujungpandang of South Sulawesi.(32)