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PT Sari Husada Tbk, a publicly listed nutritious food
producer, is looking for temporary factories either at home or overseas
to carry out production activities after the recent earthquake forced
the closure of its two Yogyakarta factories.
Corporate secretary Yeni Fatmawati said last week the production could
be carried in partnership with other companies.
"If we can't find suitable partners here to do the joint production, we
might do it abroad," she said.
Yenni said the cost for the joint production was included in the total
restructuring price of about Rp 175 billion (US$18.48 million),
predicted on the company's preliminary assessment.
According to the preliminary assessment, the company will loose about
Rp 70 billion (about US$7.3 million) in sales due the temporary factory
closures, while the total cost of renovating the damaged factories
could reach about Rp 175 billion.
President director Budi S. Isman said the company had completed its
assessment of the factories' damage but he had not received any reports
on the results.
"We will give more detailed and accurate information in early August,"
he said after attending the company's annual shareholders meeting in
Jakarta.
The company, which mainly produces powdered milk and other baby foods,
booked a net profit of Rp 289.77 billion in 2005, an increase on the
previous year's Rp 181. 88 billion.
The Thursday shareholders' meeting approved the executive board's
proposal to pay out all the profits as dividends so shareholders would
receive a Rp 160 dividend on each share held.
"The dividend will be paid to shareholders registered on July 10 at the
latest. The payment will be made on July 24," he said.
The meeting also officially appointed three new members to the
company's board of directors, including Rohit Anand as the new Chief
Financial Officer, replacing Alain Comel; Sonny Effendhi as Research
and Development Director, replacing Setyanto; and Djagad Prakarsa as
the company's new Sales Director.
Before joining Sari Husada, Rohit Anand was finance director for the
British American Tobacco group, Sonny Effendhi was formerly Vice
President for Corporate Manufacturing, Innovation and Renovation at PT
Nestle Indonesia and Djagad Prakarsa was previously head of Reckitt
Benckiser and worked for Procter and Gamble in various countries,
including Indonesia.
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