PT Timah books rp1.78 trillion in net profits last year

Jakarta, (ANTARA News) - State tin mining company PT Timah Tbk (Timah) last year booked a net profit of Rp1.78 trillion (Rp3,546 per share), which was a 757 percent increase compared to Rp208 billion (Rp414 per share) in 2006.

The increased net profit was thanks to the company`s improved performance and the tin price hike on the world market as well as by the improved condition of the tin industry in Indonesia, according to result of a shareholders general meeting of the company held in Jakarta on Thursday.

The general shareholders meeting agreed to use 50 percent, or Rp892,296,000,000, of the net profit as dividends, and the other 50 percent, or Rp892,296,000, for the development of the company`s business operations, bonus for the directors and commissioners, for corporate social responsibility (CSR).

Members of the management board are still Wachid Usman as president director, Setyo Sardjono as operations director, M. Krishna Syarif as finance director, Gatut Hari Prasetyo as commercial and business development director, and Surawardi as human resources and geneal affairs director. end (*)