Mulia's right shares

Mulia's right shares

JAKARTA (JP): PT Mulia Industrindo, a publicly-listed
manufacturer of ceramic and glass products, plans to issue two
right shares priced at Rp 2,700 (US$1,10) each for every five old
shares in May.

The company announced on Wednesday that 34.7 percent of the
expected proceeds of Rp 321 billion will be allocated for debt
repayment.

The remaining 68.3 percent will be used to strengthen the
working capital of the company's subsidiaries -- PT Mulia Glass
and PT Mulia Keramik.

The companies will get 33.6 percent and 34.7 percent
respectively of the total proceeds to finance their expansion
projects.

Mulia Industrindo also announced that its net profits rose by
78 percent to Rp 67.4 billion last year, supported by a 39
percent increase in net sales which hit a record of Rp 327.5
billion. (08)