Mas Murni's revenues rise

SURABAYA, East Java (JP): PT Mas Murni Indonesia, which has operations in the hotel business, said it reaped Rp 35.95 billion (US$15.63 million) in revenues last year, 31 percent higher than the Rp 27.5 billion recorded in 1994.

Mas Murni's president, Djaja Santoso, told the press after a shareholders meeting here yesterday that the company's before-tax profits last year rose by 41 percent to Rp 21.9 billion.

He said that after paying interest and taxes, the company received a net profit of only Rp 3.79 billion last year.

Mas Murni's financial obligations continued to rise from Rp 65.6 billion in 1993 to Rp 122.6 billion in 1994 and Rp 174.99 billion in 1995.

The funds were used, among other things, for the development of the Crystal Apartments, whose construction is not yet completed, Djaja said.

Yesterday's shareholders meeting agreed on the payments of dividends of Rp 20 per share, a plan to split the company's stocks, the distribution of bonus shares and the restructuring of capital. (15/pwn)