Sona Topas to Invest Rp40 Billion
Tuesday, 13 June, 2006 | 16:55 WIB

Tempo Interactive, Jakarta: PT Sona Topas Tourism Industry will invest Rp40 billion in order to expand duty free shops in Indonesia.

Aryanto Agus Mulyo, Head of the Board of Commissioners of Sona Topas, said that the company is planning to expand a 775 square-meter duty free outlet at Ngurah Rai Airport in Bali. “The total investment for that is Rp20 billion,” Aryanto said after a general stockholder's meeting at the Jakarta Stock Exchange yesterday.

Through expanding this outlet, the company is optimistic for increasing sales by next year. The airport duty free outlet is contributed to income of US$500 thousand per month. The project is expected to be settled in December this year.

In addition to Ngurah Rai Airport, the company is analyzing a Rp20 billion land-buying plan on Jalan Denpasar, Kuningan, South Jakarta. “The land will also be used for constructing a duty free shop,” said Aryanto.

Due to expansion, this year's company's net profits are estimated to reach Rp5 billion with a sales target of US$28 million.

The company's general stockholders’ meeting yesterday has also agreed that in terms of 2005 the company will not share its dividends despite its profit. The profit will be allocated for expanding the business. In 2005, Sona Topas recorded an income of Rp310.3 billion with net profits of Rp4.158 billion.

Eko Nopiansyah
_________________________ Indonesian Business and Investment News Aggregator