Supreme Cable Changes Name Bisnis Indonesia, page B1, 2006-06-07
PT Supreme Cable Manufacturing Corporation Tbk changed its name to PT Supreme Cable Manufacturing Tbk, or Sucaco for short. This is based on the government’s regulation No. 26/1998 Act 6 that states that all companies who’s shares are 100 percent owned by Indonesians must have an Indonesian name for the company.
Sucaco Will Not Finance Capital Expenditure This Year Bisnis Indonesia, page B2, 2006-06-02
PT Supreme Cable Manufacturing Corporation (Sucaco) this year will not finance capital expenditure because its production capability is still low. The factory’s utilisation at the present is still around 70 percent and the company still has no plans on adding investments on machinery. The meeting of general shareholders have only agreed upon the sharing of dividends worth Rp.70 per note and reserve funds of Rp.2.9 billion.
In 2005, Sucaco’s net sales reached Rp.1.3 trillion, up 37.16 percent compared to the previous year’s Rp.991.7 billion. It’s 2005 net sales amounted to Rp.56.798 billion, up 63.7 percent compared to 2004’s Rp.34.68 billion. up to April 2006, demand has gone down 20 percent.