Friday, 27 April 2007 18:26:54
StockWatch (Jakarta) - Ceramic floor tile manufacturer PT Arwana Citramulia Tbk (ARNA) has decided not to pay dividends for the 2006 fiscal year because the company will use the net profit to strengthen the capital.
"The company still needs fund for financing the next expansion. Using the profit for dividend payment may injure the company's debt ratio," Arwana's finance director Indra Bachtiar said today (27/4) after the company's AGM in Jakarta.
Arwana Citramulia recorded net profit of IDR28.354 billion in 2006 with net sales worth IDR344.868 billion.
In the AGM today, the shareholders have approved the plan to increase capital in the company's subsidiary PT Arwana Nuansa Keramik at IDR9.9 billion and in PT Bangun Reksaperkasa from 5% at 65%. (sup/bud)
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