Perdana Cipta splits stock

Perdana Cipta splits stock

JAKARTA (JP): The shareholders of publicly-listed PT Perdana Cipta Multi Finance approved yesterday the management's proposal to raise its authorized capital from Rp 100 billion (US$43.38 million) to Rp 500 billion and to split one old share into two new shares.

A director of the company, Budi Raharjo, told journalists after an extraordinary shareholders meeting that the split will be undertaken by halving the nominal value of the shares from Rp 1,000 to Rp 500.

Raharjo also said that the company's net profit in 1995 was estimated at Rp 14 billion, as compared to Rp 9 billion in 1994. The company expects an increase of another 20 percent in its profit this year.

He said the company allocates 95 percent of its funds for leasing and factoring businesses and only 5 percent for consumer finance. (08)