Makindo's profits up

JAKARTA (JP): PT Makindo has reported a 32 percent increase in net profits for 1997 to Rp 89.6 billion (US$9.48 million).

Makindo said Monday that its total assets expanded 621 percent to Rp 1.07 trillion as of the end of 1997.

The company plans to propose to its shareholders two alternatives on the size of the dividend payments: either 35 percent of 1997 net profits or 90 percent.

"The decision on the size of the dividends will be left to the majority of independent shareholders, according to the prevailing rules," the company said.

The company said it would focus its efforts on generating more fee-based income. It plans to enhance its investment banking activities toward providing corporate restructuring services.

Makindo is the third securities firm to be listed on the Jakarta Stock Exchange after Lippo Securities and Bhakti Investama.