Indocement posts Rp 1t in net profit

Indocement posts Rp 1t in net profit

JAKARTA: Indonesia's second largest cement producer PT Indocement
Tunggal Prakarsa said on Monday it booked a net profit of Rp
1.041 trillion (about US$110 million) in 2002, swinging from net
loss of Rp 63.1 billion in 2001 thanks to foreign exchange gains.

The company said net foreign exchange gains amounted to Rp
848.8 billion during the reporting year, compared with Rp 319.5
billion in losses a year earlier, as the rupiah appreciated
against the dollar.

Indocement, like many Indonesian companies, is exposed to the
rupiah's fluctuations due to its dollar-denominated debt.

Its net revenues rose to Rp 3.948 trillion from Rp 3.453
trillion, which drove gross profit up 20 percent to Rp 1.299 from
Rp 1.082 trillion a year earlier. Germany's Heidelberger Cement
AG. owns a 61.70 percent stake in the company. -- Dow Jones

;DJ;
ANPAf..r..
Corporatebrief-ExxonMobil-gas
ExxonMobil finds huge gas field
JP/14/Brief

ExxonMobil finds huge gas field

SYDNEY, Australia: Energy giant ExxonMobil said on Monday it had
made what it believes to be the largest gas discovery in
Australian waters.

ExxonMobil Corp. said its Jansz gas field off Western
Australia state holds around 20 trillion cubic feet of
recoverable and saleable gas.

"ExxonMobil believes this to be the largest gas discovery ever
to have been made in Australian waters," Australian exploration
director Dough Schwebel said in a statement.

"Jansz now represents around 40 percent of the undeveloped
discovered gas resources in the deepwater Carnarvon Basin."

The field covers 2,000 square kilometers. Production tests are
scheduled for mid-year. -- AFP

;DJ;
ANPAf..r..
Corporatebrief-Taiwan-airlines-cargo
Taiwan's two airlines hike cargo fees
JP/14/Brief

Taiwan's two airlines hike cargo fees

TAIPEI: Taiwan's two leading airlines said on Monday they are
raising their fees for Europe- and the U.S.-bound cargo flights
in reflection of rising market demand.

China Airlines (CAL) raised the cost of cargo to Europe by 20
percent and the United States by 10 percent, while EVA Air
increased its rates by 45-50 percent and about 10 percent
respectively.

"The fare hikes mainly came from rising market demand. The
second quarter (April to June) is a traditional peak season for
exporters in Asia," a CAL spokesman said.

A spokesman from EVA Air said the market demand has been also
boosted by a U.S.-led war against Iraq. -- AFP

;DJ;
ANPAf..r..
Corporatebrief-Dragonair-Airbus
Dragonair leases 10th Airbus
JP/14/Brief

Dragonair leases 10th Airbus

HONG KONG: Hong Kong carrier Dragonair has signed a deal for the
lease of an Airbus A330 from U.S.-based International Lease
Finance Corp., the airline said on Monday.

The wide-body aircraft will become the 10th Airbus A330
operated by Dragonair early next year under its ongoing fleet
expansion plan, the airline said.

Dragonair chief executive officer Staley Hui said the aircraft
was "necessary" due to expected growth.

"Leasing the aircraft provides us with the flexibility we have
been building all along in our fleet," he said.

Dragonair expects to have two A321s enter into service this
summer, two A320s for delivery next year, and one A320 arriving
in 2005. -- AFP