Jababeka's profit rises

Jababeka's profit rises

JAKARTA (JP): Publicly listed industrial estates firm PT
Kawasan Industri Jababeka posted a net profit of Rp 67 billion
(US$27.91 million) in the first quarter of 1997, up 191 percent
from Rp 23 billion in the corresponding period last year.

The company said yesterday that total sales also rose to Rp
194 billion in the January to March period this year, up 148
percent from Rp 78 billion in the same period last year.

The company said industrial estates contributed 87 percent of
the turnover in the first quarter, including the sale of 184
hectares of industrial estates worth Rp 127 billion.

Jababeka, which had total assets of Rp 2.2 trillion as of
December 1996, is developing another industrial estate covering
1,300 hectares in Cilegon, West Java.

The company has obtained licenses to develop 4,270 hectares of
land, comprising 1,570 hectares in Cikarang industrial estate,
1,300 hectares in Cilegon and 1,400 hectares in the new Cikarang
housing complex.

The company said it had set up PT Gerbang Teknologi Cikarang,
a joint venture between PT Kawasan Industri Jababeka and
Singapore Investment Pte. Ltd., to develop a high-tech estate in
Cikarang industrial estate. (09)