Dharmala pays dividend

Dharmala pays dividend

JAKARTA (JP): PT Dharmala Intiland (DIL), a real estate
developer listed on Jakarta and Surabaya stock exchanges, will
pay a cash dividend of Rp 115 (US$0.05) per share for the year
ended on Dec. 31, 1994.

The dividend payout plan was approved yesterday in the
company's annual general shareholders meeting, which also
endorsed the company's 1994 balance sheets.

DIL President Hendro S. Gondokusumo said that the company saw
a robust growth last year, with the consolidated after-tax
profits rising more than 140 percent to Rp 55.41 billion
(US$25.18 million) from Rp 22.53 billion in the previous year.

The consolidated assets of the company, the property arm of
the diversified Dharmala Group, grew by around 25 percent to Rp
1.2 trillion from Rp 966.1 billion.

Hendro said DIL will continue to focus on the development of
residential estates in a bid to ease the impact of the projected
gloomier market this year.(hen)