September 27, 2002 9:28:39 AM
TKIM and INKP Not To Pay Out Dividend

Shareholders meeting of PT Indah Kiat Pulp & Paper (INKP) and PT Tjiwi Kimia (TKIM) approves the company plan not to share dividend for the 2001 book year due to its loss. TKIM still suffered US$80.3M loss while INKP US$260.4M.

In the firs semester of 2002, INKP booked a net sales by US$591.7M (+3.7% YoY). However, net loss increase to US$190.4M from the previous US$25.9M. Those were caused by the increase in other expenses by US$204.2M.

On the other side, the sales of TKIM decreases 3.1% YoY to US$396.2M in 1H02 and net loss increase by 59.4% YoY to US$41.4M.
INKP, TKIM: Avoid.