Semen Padang set to chalk up big jump in net profits

The management of state-owned cement maker PT Semen Padang hopes to chalk up Rp128.8 bn (US$14m) in net profit this year, up 92 per cent from 2003.  Company President Dwi Soetjipto said this year its sales are predicted to rise to Rp1.71 trillion from last year’s Rp1.58 trillion.  Soetjipto said the company hopes to restructure its debts by converting short term debts into long term ones.  He said short term debts of the company are much larger than its long term debts, causing liquidity problems.