Taxi firm's bonus shares

Taxi firm's bonus shares

JAKARTA (JP): PT Steady Safe, a publicly listed transportation
company, announced yesterday that its shareholders had approved a
plan on the split of its stocks and the distribution of bonus
shares worth Rp 29.5 billion (US$ 13.2 million).

Jopie Widjaja, the company's president, said that every two
existing shares, after the split, will be eligible for one bonus
share.

He also declared the distribution of a dividend of Rp 175 per
share.

He said the company, which expanded its fleet to 2,700 taxi
cabs, 48 buses and 25 limousines in 1994, has been licensed by
the government to add 200 units of air-conditioned buses and to
operate 200 buses of the state-owned PPD bus company under a
build, operate and transfer arrangement beginning next month.

Steady Safe's net profit increased from Rp 6.7 billion in 1993
to Rp 20.2 billion in 1994, while its total assets grew by 164
percent from Rp 57.5 billion as of the end of 1993 to Rp 151.8
billion as of last December.

He added that the company's equity increased by 127 percent
from Rp 48.9 billion as of 1993 to Rp 111 billion as of 1994.
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