Lippo Securities profit

Lippo Securities profit

JAKARTA (JP): PT Lippo Securities, the first securities company listed on the Jakarta Stock Exchange (JSX), expects to book Rp 32.2 billion (US$13.7 million) in pretax profits this year.

The company's president, Charles de Queljoe, told an analysts meeting yesterday that the projected income will represent an increase of 86 percent over 1995's result of only Rp 17.3 billion.

He said that the company will double its commission revenues, to be supported by its strong client base.

Harry Danardojo, the company's director of sales, said that Lippo's market share has increased from 3 percent in 1995 to 6.4 percent at the end of last month.

"During the first three months of this year, we recorded a total transaction value of Rp 1.2 trillion. It was equivalent to 67 percent of our total transactions for the whole of last year," Harry said.

Harry said that the company has been mandated to execute at least four initial public offerings, two rights issues and three financial advisory assignments.

"We will list at least two companies in the second quarter of this year," Harry added.(08)