Dividends reflect rises in profits of Texmaco units

JAKARTA (JP): Publicly listed PT Texmaco Perkasa Engineering, PT Polysindo Eka Perkasa and PT Texmaco Jaya, -- all under the Texmaco group -- will pay cash dividends of Rp 90 (4 U.S. cents), Rp 60 and Rp 30 per share respectively, the companies said yesterday.

The cash dividend payouts represent respectively 33 percent, 39 percent and 43 percent of their respective total net profits last year.

Textile machinery producer and engineering service company Texmaco Perkasa Engineering said after its annual shareholders meeting yesterday that its net profit increased 143 percent to Rp 65.8 billion last year from Rp 27 billion in 1995.

Its total sales rose 140 percent to Rp 405.8 billion in 1996 from Rp 168.8 billion in 1995.

Its total assets continued to rise to Rp 605.3 billion as of December 1996 from Rp 306.9 billion in 1995.

The company said it had started producing rotary printing machines under a technical cooperation agreement with Italy's MS Machinery and System.

"The new machine will increase the speed and efficiency of cloth printing compared to the conventional flatbed screen printer," the company said.

Texmaco Perkasa will also sign a technical cooperation agreement with ICBT Diedrichs of France to produce telescopic rapier looms in the third quarter of this year. The company did not give further details.

Texmaco Perkasa Engineering, established in 1982, operates four divisions: textile machinery, heavy engineering and fabrication, machine tools and automotive components.

Integrated polyester producer PT Polysindo Eka Perkasa said its net profit increased 39 percent to Rp 169.8 billion from Rp 122.1 billion.

Polysindo's net sales rose 45.9 percent to Rp 1.4 trillion last year from Rp 963.7 billion in 1995.

Its total assets almost doubled to Rp 2.3 trillion as of the end of last year from Rp 1.3 trillion in 1995.

Polysindo produces a wide range of textile products, including polymer, polyester chips, staple fiber, filament yarn and clothing. It also produces its own purified terephtalic acid as feedstock for polymer and polyester chip.

Textile producer Texmaco Jaya said it booked a total net profit of Rp 50.2 billion last year, a 19 percent increase from Rp 42 billion in the previous year.

Its total assets increased to Rp 763.9 billion in December 1996 from Rp 614.1 billion in 1995.

The company is increasing its weaving and finishing production capacity to 160 million yards and 228 million yards respectively this year, from 97 million yards and 160 million yards last year.

Texmaco Jaya, in a partnership with Helly Hansen of Norway, is building a coated fabrics plant in Karawang, West Java. The plant, with an annual capacity of 485,000 yards of coated fabrics, will start commercial production in the forth quarter of this year.

Texmaco Jaya runs an extensive distribution network for textiles both domestically and internationally. It exports textiles, mostly from the Texmaco Group, to 50 countries. (09/rid)