Suparma plans bonus shares

SURABAYA (JP): Publicly listed paper producer PT Suparma said on Wednesday it would issue bonus shares to shareholders in a bid to increase its paid-up capital.

Company president Hendro Luhur said shareholders approved the issuance of 616,572,000 bonus shares.

"Shareholders will get 198 bonus shares for every 100 shares they own," Hendro said.

The company produced 67,000 tons of paper in 1998, as compared to some 50,000 tons the previous year.

Suparma sells its paper domestically as well as overseas, including to Belgium, Pakistan, South Korea and the Philippines. (udi/nur)