Enseval's profit surges

Enseval's profit surges

JAKARTA (JP): PT Enseval Putera Megatrading, a trading company
listed on the Jakarta Stock Exchange, reported a surge in its
after tax profit to Rp 18.44 billion (US$8.2 million) in 1994
from Rp 2.23 billion in 1993.

The company's president, K.A.I. Selomulyo, said after the
firm's annual shareholder meeting here Friday that last year's
profit was 8 percent lower than the Rp 20 billion promised by the
company last year in its prospectus for going public.

The company will distribute dividends of Rp 80 per share to
shareholders from the profit.

Selomulyo also said the company's sales revenues increased to
Rp 499 billion in 1994 from Rp 137.34 billion in 1993.

The company's finance director, Lauw Lie Hung, said that the
company will issue 54 million bonus shares, which will be
distributed to existing shareholders on the basis of nine bonus
shares for 10 old shares. (32)