Finance company to give dividends to shareholders

JAKARTA (JP): A finance company has announced a plan to distribute dividends to shareholders, while a real estate developer decided to channel its 1993 profit into expansion programs.

Charles De Queljoe, president of PT Lippo Pacific Finance, said in an annual meeting of the finance company's shareholders here on Thursday that the firm will distribute cash dividends of Rp 50 (two US cents) per share and one dividend share for each five existing shares to its shareholders from its 1993 after-tax profits.

He said the company's after-tax profit on a consolidated basis increased to Rp 6.8 billion (US$3.15 million) last year from Rp 2.3 billion in 1992.

Meanwhile, Trijono Gondokusumo, president of PT Putra Surya Perkasa, a real estate division of the PSP Group, told a separate shareholder meeting that the company will use its 1993 profit to finance the construction of housing projects in Jakarta and its surrounding areas.

Putra Surya Perkasa's after-tax profit grew by 68.5 percent from Rp 11.41 billion in 1992 to Rp 19.23 billion last year, he said.

The company's net revenues soared to Rp 116.40 billion last year from Rp 27.57 billion in 1992.

Trijono said the company expects to generate a net profit of Rp 70.2 billion and net revenues of Rp 373.17 billion this year. (02)