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)