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)