Indorama's profits up 24%

JAKARTA (JP): PT Indorama Synthetics, a textile company listed on the Jakarta Stock Exchange (JSX), announced yesterday that its before-tax profit during the first nine months of this year rose 24 percent to Rp 47 billion (US$21.5 million).

The company's finance manager Arvind Parakh said that its revenue increased by 29 percent to Rp 278 billion, while its earning per share was estimated at Rp 654.

PT Indorama recently got a long term loan of US$97.5 million from a consortium of foreign banks for its ongoing corporate investment program, which includes the establishment of a polyester plant, a weaving plant, a PET resin plant, a speciality yarn plant and a dye-finishing plant. (rid)