Ometraco pays dividend

JAKARTA (JP): Ometraco Corporation's annual shareholders' meeting yesterday approved a cash dividend of Rp 50 (2 U.S. cents) a share for 1996.

The company said its net income last year increased 22 percent to Rp 66.3 billion, from Rp 54.4 billion in 1995, with its financial services and consumer divisions contributing most of the growth.

But Ometraco said its infrastructure division was affected by the "unexpected policy of a major customer in the public sector to reduce its purchases to a minimum".

"The impact on the division was somewhat cushioned by the extensive customer base that the company has developed in the private sector," Ometraco said.

Ometraco is owned 65.9 percent by the Santosa family and has a 9.7 percent strategic holding by Morgan Stanley Capital Partners.

The company has businesses in financial services, consumer products and infrastructure.

Its listed subsidiaries include Japfa Comfeed Indonesia, in which it has a 51 percent interest; Multibreeder Adirama Indonesia, which is 73.06 percent owned by Japfa Comfeed; and Bank Tiara Asia and Trafindo Perkasa, in which it has 51 percent in both. (pwn)