Jababeka pays dividend

JAKARTA (JP): Real estate developer PT Kawasan Industri Jababeka's shareholders approved a Rp 100 (43 U.S. cents) dividend yesterday for the 1996 financial year.

The company's president, Ismail Sofyan, said net profit rose 36 percent from Rp 137 billion in 1995 to Rp 187 billion last year.

Net earnings per share surged to Rp 386.

Total revenue increased 57 percent to Rp 548 billion, with assets rising 76 percent to Rp 2.2 trillion.

PT Kawasan has secured land acquisition permits for 4,270 hectares in the West Java cities of Cikarang, Cilegon and Serang for future expansion.

"This is a good achievement in a property market that has been sluggish since 1994," Ismail said.

He said the company's sales and profit would rise significantly this year and total sales for this year's first quarter had already reached Rp 200 billion. (bnt)