Our Man in Hong Kong

by K.K. Chadha

Currency Troubles Benefit Samudera
Singapore-listed Asian feeder operator Samudera Shipping Line says it will benefit from Southeast Asia’s currency turmoil as its earnings are in US dollars.
“The currency turmoil has worked in our favour,” said chief executive Randi Effendi. “We will see some real currency gains and will be able to comfortably meet our profit forecast for 1997.”
The company, which gained a listing three months ago, expects 1997 profit to rise 14 percent to S$11.4 million (US$6.8 million), with sales forecast to increase 26 percent to $245.3 million.

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