PT Asahimas: 2003 sales up 5 – 7%

Indonesian safety glass maker PT Asahimas Flat Glass expects its sales to rise 5-7% in 2003 on the back of stronger demand from the construction and property sectors, said the company“s corporate fin…

Indonesian safety glass maker PT Asahimas Flat Glass expects its sales to rise 5-7% in 2003 on the back of stronger demand from the construction and property sectors, said the company“s corporate finance and control manager Rusly Pranadi. In 2002 Asahimas posted sales of IDR 1.22 trillion, up 0.5% from 2001. “Sales may rise by 5% to 7% in line with growth in the construction sector, especially in the property sector,” Pranadi told reporters. He said the steady decline in key rates of Bank Indonesia Certificates (SBI) since early 2003 has encouraged banks to channel more loans to the construction sector. For the nine months to September 2003 period, sales revenue grew by about 10% as both volume and prices have increased, he said. During the period, Asahimas“ sales rose to IDR 1.1017 trillion from IDR 1.010 trillion a year earlier. Pranadi also said that Asahimas plans to sell its 50% stakes in PT Alka Prima Fajar and PT Windowpak Surabaya by the end of 2003. He did not say how much the company expects from the sale. (1 usd = 8,483 IDR).