PPD set to gain profit this year

PPD set to gain profit this year

JAKARTA (JP): The state-run city bus company Perum PPD which
has been operating in the red so far, is expected to make a
profit this year, according to the company's spokesman.

"We will continue to do our best to reduce our amount of
losses. In 1993 we suffered Rp 16.7 billion in losses, in 1994 Rp
15.9 billion and in 1995 Rp 3.9 billion. But this year it is
expected that PPD will make a profit of Rp 2 billion," Mochamad
Khamuim Busro was quoted as saying by Antara over the weekend.

He acknowledged, however, that the targeted profit would not
be gained from its operational income, but simply from the sale
of its assets on Jl. Kramat Raya and Jl. Pasar Minggu.

The company will sell its plots of land located on the two
streets. The properties are expected to sell for a total of Rp 43
billion.

The funds will be used to build the company's new head office
near the Halim Perdanakusuma military air base in South Jakarta.

Mochamad blamed previous years' massive losses on the large
sums of money spent on human resources.

"At present the company employs 10,030 workers, comprising
2,936 drivers, 2,845 conductors, 1,641 technicians and 2,608
administrative staffers. Formerly we had more than 11,000
employees," he said. (bas)