Ramayana net profit fell last year
Ramayana net profit fell last year
JAKARTA: Indonesian retailer PT Ramayana Lestari Sentosa said on Monday that its net profit fell to Rp 299.68 billion in 2002 from Rp 320.08 billion a year earlier, mainly due to declining interest income.
The company, whose customers are mainly those at the lower end of the middle-income group, said interest income slipped to Rp 58.26 billion from Rp 74.34 billion due to falling interest rates in the country. Ramayana has large deposits in banks, the company said.
Gross profit rose to Rp 917.16 billion from Rp 772.92 billion a year earlier.
Operating income increased to Rp 315.73 billion from Rp 303.78 billion. -- Dow Jones
;DJ; ANPAf..r.. CorporateBrief-banpu-revenues Banpu to post higher revenues JP/
Banpu to post higher revenues
BANGKOK: Banpu PCL, a Thai coal miner and power producer, expects to post higher sales this year due to rising production from its Indonesian coal mines, the company's chief executive said.
Banpu's sales this year will likely reach 13 billion baht with a net profit around 1.4 billion baht, said Chanin Vongkusolkit late on Friday.
In 2002, its sales totaled 10.91 billion baht, with a net profit of 1.45 billion baht.
"Our bottom line this year would be mostly from our operations as we would not have the foreign-exchange gain as recorded last year," said Chanin.
In 2002, it booked a foreign-exchange gain of 616.3 billion baht.
Production from Indonesia coal mines is expected to rise 7 percent to 12 million metric tons this year, while production from Thai coal mines will stay around 3 million tons, about the same as last year, said Chanin.
In 2005, Banpu's sales are expected to rise to 18 million tons a year in line with growing coal demand in Asia, he said.
Chanin said the company is looking at opportunities to operate coal-fired power plants in India, Indonesia and the Philippines in a bid to add value to its coal business.
The investment for each project would be in the range of US$100 million to $300 million, and each project would generate 100-300 megawatts of electricity, he said. -- Dow Jones
;DJ; ANPAf..r.. CorporateBrief-BII-profit BII returns to profit in 2002 JP/
BII returns to profit in 2002
JAKARTA: Bank Internasional Indonesia (BII) said on Monday it posted a net profit of Rp 132.52 billion (US$14.9 million) last year against a loss of Rp 4.13 trillion in 2001 due to an asset write-back.
The company booked interest income of Rp 3.09 trillion, down from Rp 3.33 trillion the previous year.
It recorded a net interest loss of Rp 49.30 billion against a net interest profit of Rp 40.62 billion a year earlier.
But it posted an operating profit of Rp 86.76 billion against a loss of Rp 3.60 trillion in 2001 thanks to the write-back of a Rp 736.04 billion rupiah assets provision write-off.
At the end of 2002, BII's capital adequacy ratio rose to 33.21 percent from a negative 47.41 percent. The sharp rise was mainly attributable to government recapitalisation through a Rp 4.8 trillion rights issue last year.
The Indonesian Bank Restructuring Agency took over BII as part of a massive bank bailout after the 1997/98 financial crisis. -- AFP
;DJ; ANPAf..r.. CorporateBrief-Telkom-profit Telkom's profit doubled last year JP/
Telkom's profit doubled last year
JAKARTA: PT Telekomunikasi Indonesia (PT Telkom), a state- controlled telecommunication company, on Monday said 2002 net profit nearly doubled from a year earlier, thanks to higher revenue contributions from its cellular and fixed-line divisions.
Net profit surged to Rp 8.345 trillion from Rp 4.250 trillion in 2001, while revenue rose 33 percent to Rp 21.399 trillion from Rp 16.131 trillion.
Its cellular business contributed revenue of Rp 6.226 trillion, up 32 percent from Rp 4.708 trillion a year earlier. Revenue from the cellular division made up around 29 percent of total revenue.
The company said revenue from fixed-line services expanded 30 percent to Rp 8.327 trillion - making up around 38 percent of total revenue - from Rp 6.415 trillion in 2001.
Telkom currently has around 5 million cellular subscribers and operates more than 7.5 million domestic lines throughout Indonesia.
The Indonesian government owns a 51.2 percent stake in Telkom and the public holds the remaining 48.8 percent.
Telkom has a 65 percent stake in Telkomsel, while Singapore Telecommunication Ltd. owns 35 percent. -- Dow Jones