Timah books Rp 318.093 in net profits
Friday, April 28 2000 - 03:15 AM WIB
Publicly listed state tin mining company PT Timah booked a net profit of Rp 318.093 billion (US$1=Rp 7,915) in 1999, as against a net profit of Rp 518.8 billion in 1998.
Company president Erry Riyana Hardjapamekas said on Thursday the decrease in net profit was caused by the slump in tin price, the strengthening of rupiah against the US dollar and the decrease in the company's tin reserve.
The company operates a tin mine on the Bangka Island, South Sumatra.
He said the company would distribute Rp 124.5 billion of the net profit in dividends, or Rp 247.37 per share. (*)