Lippo quadruples income

JAKARTA (JP): PT Lippo Securities, one of the listed subsidiaries of the Lippo Group, reported yesterday that its net income in the first nine months of 1994, quadrupled to Rp 19.2 billion (US$87.2 million), from Rp 5 billion in the corresponding period of last year.

Tan Yong Seng, the company's director, said the results are caused mostly by a 329 percent increase in the net operating income to Rp 24 billion in the January-September period over the same period last year.

The executive said the firm's pretax profit rose 248 percent to Rp 27.8 billion from Rp 8 billion. (hdj)