Multibreeder to distribute bonus shares

Multibreeder to distribute bonus shares

JAKARTA (JP): PT Multibreeder Adirama Indonesia will distribute a cash dividend of Rp 65 per share and one bonus share with a face value of Rp 1,000 for each two existing shares.

Junus Karman, a director of Multibreeder, said after the company's annual shareholder meeting yesterday that the issuance of bonus shares will not change the composition of shareholders.

Multibreeder is 69.22 percent owned by PT Japfa Comfeed Indonesia and 30.78 percent by the investing public.

Junus said the company gained a net profit of Rp 15.14 billion in 1994, as compared to Rp 10.37 billion gained in 1993.

The company's production of day-old chicks (DOC) increased from 50 million in 1993 to 80 million in 1994, while its sale revenues rose from Rp 41.4 billion to Rp 70.3 billion, he said.

"The company will increase its production to 100 million DOC in 1995," he added.

Multibreeder, which produces chicks from grandparents and parent stocks in its breeding facilities in Lampung and East and West Java, plans to build breeding units in other parts of Indonesia to meet the increasing demand on the domestic market.

Last December, the company received a syndicated loan of US$15 million from foreign banks under the arrangement of Sanwa Bank of Japan. (32)