Textile firm to increase capacity

JAKARTA (JP): PT Ever Shine Tex, a major integrated fabric and garment producer, expects its exports will increase to around US$20 million this year from $14.03 million last year, a company executive says.

Pui-Man Sung, president of Ever Shine Tex, told reporters after a shareholders meeting on Monday that the company will raise authorized capital to Rp 300 billion this year from Rp 80 billion at present to anticipate the company's plans to raise exports.

"To support the planned export increase, we will expand our production capacity by around 30 percent in September," he said.

The company, specializing in the production of nylon, polyester and acetate fabrics and casual garments, currently produces some 67 million yards of fabric a year. Around 28 percent of its total sales of Rp 106.27 billion last year came from exports.

The company also reported that its after-tax profit increased by three percent to Rp 18.48 billion from Rp 17.94 billion a year earlier. "But, we plan to raise our after-tax profit to Rp 21 billion this year with a sales target of Rp 125 billion," a company director, Erlien Lindawati Surianto, said.

She said the company's shareholders approved the management's proposal to pay a cash dividend of Rp 100 per share from its earnings per share of Rp 307.(fhp)