Six local firms listed as fast growing among Asian companies
Six local firms listed as fast growing among Asian companies
JAKARTA (JP): Six of Indonesian major companies have been
listed among the 88 Asian companies which recorded the fastest
growth over the past four years.
An Asian region business magazine, Asia, Inc. reported in its
July issue that the six Indonesian companies included in its
second annual Growth-88 list, are the shrimp and poultry feed
producer PT Central Proteina Prima, the power transformer and
various electric equipment manufacturer PT Trafindo Perkasa,
cement producers PT Indocement Tunggal Prakarsa and PT Semen
Cibinong, pharmaceutical producer PT Dankos Laboratories and life
insurance company PT Lippo Life Insurance.
Qualification of the Growth-88 list is based on the companies'
performances recorded since 1990, including sales, profits,
earning per share, price-earning ratios as well as share prices.
According to the magazine, Proteina Prima, ranked 19th on the
list, recorded a cumulative sales growth of 949 percent during
1990-1993, while Trafindo, 49th, posted a 388 percent growth
during the period, Indocement, 61st, a 331 percent growth, Semen
Cibinong, 66th, a 310 percent growth, Dankos, 78th, a 262 percent
growth and Lippo Life, 87th, a 251 percent growth.
Out of the six Indonesian companies included in the fastest-
growing list, Proteina Prima posted its pre-tax profit of $26.4
million with an earning per share of $0.04, Trafindo with a
profit of $4.8 million and earning per share of $0.12, Indocement
with $201.2 million and $0.34, Semen Cibinong with $17.7 million
and $0.17, Dankos with $35.9 million and $0.36 and Lippo Life
with $27.8 million and $0.05 last year.
The Hong Kong-based Asia, Inc. ranked Guangdong Investment
Ltd. of Hong Kong in first place on the list, followed by
Technology Resources Industries Bhd. of Malaysia and CITIC
Pacific Ltd. of Hong Kong with their cumulative sales growths of
9,060 percent, 5,280 percent and 4,648 percent, respectively.
According to the magazine, Hong Kong and Malaysia top the
biggest 10 countries with the largest number of firms included in
the Growth-88 list. Hong Kong dominated the Growth-88 list with
30 companies included in the list, followed by Malaysia with 28
companies, Thailand nine, Indonesia and Singapore six each, South
Korea five, Taiwan two, Japan and the Philippines one each.
It added that out of the 88 Asian companies qualified for the
list, 24 firms are involved in property business, 14 in finance
and securities, 12 in construction and materials, eight in
investment holding and six in manufacturing.
Lamborghini
The Asia, Inc. also carried a report on a new breakthrough
made by the Automobili Lamborghini SpA, which last year was
acquired by an enigmatic Indonesian musician-millionaire Setiawan
Djody, to promote a high-volume and low-cost automobile.
The magazine reported that Lamborghini plans to build a car,
which will likely be called the Java, with an engine of one liter
or less and a price of US$10,000 by 1997. A source close to
Lamborghini said that the blueprints of the Indonesian-style car
will be drawn up by Lamborghini and an unnamed British automaker.
PT MegaTech, owned by Djody and President Soeharto's youngest
son Hutomo (Tommy) Mandala Putra and Mycom Setdco of Bermuda,
will manufacture the planned car in Indonesia.
Critics are skeptical about Lamborghini's role in designing
the automobile, the report said.
Automobili Lamborghini SpA is controlled by Megatech. (fhp)