PT Timah expects to book Rp 64 billion in net profit this year

Tin mining company PT Timah is projected to book a net profit of about Rp 61 billion this year, the company?s corporate secretary Prasetyo Budisaksono said.

Speaking with Neraca reporter, Prasetyo said that the profit projection was based on the rupiah exchange rate assumption of Rp 9,739 per dollar and tin price of $4,465 per dollar.

This year, sales are projected to increase to Rp 1.97 trillion from Rp 1.63 trillion in 2000, while operating income is expected to reach Rp 163 billion, he said, adding that the total debt would reach about Rp 708 billion including Rp 404 billion in long-term debts.

He added that in 2001 the total equity is projected to reach Rp 1.54 trillion, with cash flow of about 225 billion.

Asked on the impact of the growing illegal tin mining on Bangka island, he said that the company could be forced to close down some of its mining concessions and sell part of its idle mining equipment. (*)