Publicly listed PT Asahimas Flat Glass, Southeast Asia's largest glass producer, recorded a hefty profit during the first nine months of 2008 on higher demand from the construction sector. The subsidiary of Japan's Asahi Glass Co booked US$18.5M in net profit, up 111% from the same period last year, according to the company's director, Samuel Rumbajan. "The 10-15% growth in the construction sector through 2008 has boosted sales during the last 9 months," he said. Samuel said the company's strategy to increase its product prices by an average 5% had also helped boost sales. More than 70% of the firm's production is flat glass for construction purposes, while the remaining 30% is for the automotive sector. In response to anticipated lower demand in 2009 due to recession, he remained upbeat that the company's growth will remain steady.
