Indonesia

STATE-OWNED firms recorded 1995 profit of 959.9 billion rupiah (about HK$3.2 billion), a 74.3 per cent increase from the previous year, Indonesia's minister of industry and trade, Tunky Ariwibowo, said. Out of the 62 state companies previously under the industry ministry, 53 were in profit last year. Mr Ariwibowo said state firms with sound finances and strong growth prospects would be privatised through public listings or a private placement with domestic or foreign investors. Financially-unsound companies with no potential would be liquidated or sold.