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)