Timor signs deal on the supply of spare parts
Timor signs deal on the supply of spare parts
JAKARTA (JP): The publicly-listed PT Selamat Sempurna has
secured an alliance with Samah Precision Co, Ltd and Daeki
Industrial Co.,Ltd of South Korea to supply the national car
producer Timor Putera with filters and fuel tanks, a company
director said yesterday.
"We signed an agreement on the technical cooperation and
product license with the two Korean companies recently. And now
we're ready to supply Timor," the company's finance and
administration director Johansyah Anwar said after a yearly
meeting of shareholders here yesterday.
He said the auto components which would be supplied to Timor
Putra, the producer of the so called national car, would be made
in the existing manufacturing units.
He said that PT Selamat Sempurna, a major autoparts
manufacturer in Indonesia, would only need to make some changes
and buy new machines to produce Timor parts.
PT Selamat Sempurna, which is a subsidiary of the Auto Diesel
Radiators (ADR) Group owned by Eddy Hartono, has an installed
capacity of 16 million units of filters, 350,000 units of
radiators, and 80,000 units of exhaust systems a year.
"Although our autoparts supply to Timor would not contribute
much to our sales as it is still a new project, we see it as a
promising deal," he said.
In a joint venture with Kia Motors, PT Timor is allowed to
import the cars from South Korea until its own factory becomes
operational in 1998.
Handi Hidajat, the marketing director of the company, said
that the company, which also produces brake and fuel pipe, fuel
tank, car air condition and press parts, had also secured a
contract from Bakrie car to supply radiators, filters and exhaust
systems.
The Bakrie Group will start producing 10,000 units of Bakrie
cars next year.
He said that his company had already supplied Hyundai and
Bimantara with filters and fuel tanks.
"Now we're negotiating a contract to supply a number of
autoparts with Maleo, another national car project," he said.
Profit
Johansyah said that PT Selamat Sempurna, which won an ISO 9002
certificate for its quality management system from SGS Yarsley
International Certification System Ltd in January, posted a net
profit of Rp 18 billion (US$7.7 million) last year, an increase
of 14.4 percent over the previous year.
Its total sales last year increased by 24 percent to Rp 126.5
billion, which consisted of 56.9 percent domestic sales and 43.1
percent exports.
He said that the company's shareholders had agreed to pay a
dividend of Rp 64 per share. The total dividends will reach Rp
7.3 billion or 40 percent of the total net profit last year.
With the increasing growth of the Asian, European and American
automobile industry, Selamat Sempurna expects to see a growth of
more than 20 percent this year.
"We aim to reach a total sale of Rp 152 billion and a net
profit of Rp 22.3 billion this year," said Johansyah.
He said that his company targeted to increase its export
contribution to its total sales to 45 percent this year.
The company exports autoparts -- mostly radiators, filters and
exhaust systems -- to the United States, Canada, Belgium, Germany
Italy, Britain, Netherlands, Japan, Malaysia, China, Singapore,
Taiwan, Thailand, Australia, New Zealand, a number of other
Asian, African, and Arabic countries. (bnt)