Textile firm to increase capacity

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)