Hexindo gets $4.5m contract

JAKARTA (JP): Publicly listed heavy equipment supplier PT Hexindo Adiperkasa said on Wednesday it had secured new contracts worth US$4.5 million this year.

The company corrected its previous statement that the contract's value was $25 million.

Company president Rustam Effendi said in a statement that the heavy equipment sales contracts included $2.3 million awarded by PT Ackom Prima Persada, $1.5 million by PT Mitra Ventura of the Indo Chemical Group and $0.7 million by PT Kondang Sarana.

"Last month's contracts have raised our optimism to meet our target this year, after sluggish demand in the first quarter," he said, adding it would deliver the equipment this month.

Hexindo aims to book a 9 percent increase in net profit to Rp 33.3 billion (US$2.94 million) this year from Rp 30.5 billion in 2000 and a 6 percent increase in sales to Rp 413 billion from Rp 388 billion.

However, its first quarter net profit decreased by 6 percent to Rp 10.9 billion from Rp 11.6 billion in the same period last year.

Hexindo sells heavy equipment under the Hitachi brand name, such as bulldozers and excavators. (05)