Pertamina gets clean audit

JAKARTA (JP): State oil company Pertamina yesterday received an unqualified opinion from the Development Finance Comptroller for its 1995/1996 financial report.

Pertamina said net profits had increased 55 percent to Rp 853.59 billion (US$371.12 million) from Rp 550.84 billion (US$239.47 million) in 1994/1995.

In the 1995/1996 fiscal year, Pertamina's operational revenue reached Rp 25.68 trillion, up 16 percent from Rp 22.16 trillion the previous fiscal year. Operational costs reached Rp 23.74 trillion, up 14 percent from Rp 20.77 trillion in 1994/1995.

Pertamina allocated Rp 1.09 trillion to the government in 1995/1996, up from Rp 837.77 billion the previous fiscal year.

The company's short-term debt as of March 1996 reached Rp 4.88 trillion and its long-term debt was recorded at Rp 8.22 trillion. (pwn)