Mulia to give bonus shares

Mulia to give bonus shares

JAKARTA (JP): PT Mulia Industrindo, a manufacturer of ceramic and glass products listed on the Jakarta Stock Exchange, will this month issue 247.5 million bonus shares, bringing the total number of its shares to 472.5 million.

"With the bonus share issuance, we will increase the number of our free floating shares to about 195 million or 41.24 percent of our total shares, making it one of the biggest companies in the manufacturing sector," a company director, Tony Surjanto, said yesterday.

According Tony, the company expects to gain a net profit of Rp 112 billion (US$48.76 million) on total sales of Rp 560 billion this year. The company's profit last year reached Rp 65 billion.

He said that as a result, the company's price earning ratio is expected to drop to 12.7 this year from 22.3 last year. The price earning ratio is based on the share price of Rp 6,450 (per share) last year and Rp 6,300 (per share) early this year. (13)