INDONESIA’S UNITED TRACTORS TO RELY MORE ON MINING CONTRACTING

Kalimantan Coal

JAKARTA, Mar 02, 2009 (AsiaPulse via COMTEX) — PTAIF Quote Chart News PowerRating — Indonesian heavy equipment company PT United Tractor (JSX:UNTR) said it hopes to earn more revenues this year from mining contracting than from the sales of heavy equipment.
Last year sales of heavy equipment and mining contracting contributed 50 per cent each to the total revenues of the subsidiary of the country’s largest automotive company PT Astra International (JSX:ASII), Corporate secretary Sara K. Loebis said.
Last year the company recorded Rp27.9 trillion (US$2.3 billion) in income up 53.6 per cent from the previous year with net profit surging 78.52 per cent to 2.66 trillion, Loebis said.
Loebis predicted business will suffer a slowdown this year as a result of the global economic woes, the newspaper Bisnis Indonesia reported.
(ANTARA)

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