Tempo pays off debts

JAKARTA (JP): Publicly listed PT Tempo Scan Pacific paid off its debt to a syndicate of 13 foreign banks earlier than scheduled, the company announced here on Monday.

The company said in a statement the repayment of the US$105 million debt, which was to have matured in February next year, was made through its subsidiary HVL Management B.V.

The repayment will free the company from all debt obligations in the year 2000, the statement said.

Tempo, which manufactures pharmaceuticals, health care products and cosmetics, booked total sales of Rp 888.99 billion in 1998, a 42.7 percent increase over the previous year.

The company said its total sales in the nine months ending in September rose by 49.2 percent to Rp 980.10 billion. (hen)