PTBA?s 2001 net profit rises 70 percent
Monday, June 24 2002 - 09:51 AM WIB
State coal mining company PT Tambang Batubara Bukit Asam (PTBA) said on Monday its annual net profits in 2001 rose by 70 percent to Rp272.2 billion from Rp160.4 billion in 2000 (US$=Rp8,612).
Meanwhile, PTBA?s obligations by December 2001 stood at Rp613 billion, or an increase by 88.5 percent from 2000, company president director Ismet Harmaini told a parliamentary hearing.
PTBA is one of Indonesia?s largest coal producers which operates in South Sumatra.
The company, whose coal output reaches around 10 million tons annually, had planned to sell its shares to the public in August through initial public offering on the Jakarta Stock Exchange.
It had also planned to buy 25 percent of the shares of East Kalimantan-based coal mining giant PT Kaltim Prima Coal (KPC). KPC is set to divest 51 percent of its shares by end-June. (godang)