New shopping centers

New shopping centers

JAKARTA (JP): PT Duta Anggada Realty, a property company
listed on the Jakarta Stock Exchange, will focus its business in
the construction of shopping centers in the next three to four
years, said a company executive.

"We plan to construct many shopping centers in the next three
to four years to meet increasing demand for a wider range of
sophisticated shopping facilities," the company's president,
Hartadi Angkosubroto, said after an annual meeting of its
shareholders yesterday.

He said the company will build shopping centers in Jakarta,
Surakarta, Bandar Lampung and Denpasar.

He said the company, for example, will construct a shopping
center on a 35,530-square-meter area in South Jakarta in 1998, which will
include a 400-room hotel, a 100-apartment building, a shopping
mall and an office building.

Duta Anggada has thus far established 17 properties.

Hartardi also said that the company will distribute dividends
of Rp 11 billion or Rp 40 per share on Aug. 14.

He said the company's net profit had increased by 55.6 percent
from Rp 19.9 billion in 1993 to Rp 30.5 billion in 1994, while
its revenues rose from Rp 52.5 billion to Rp 78 billion.

Duta Anggada's total assets increased by 17.8 percent to Rp
775.1 billion as of the end of 1994 over the previous 12
months.(31)