Asia Fibers Allocates $92 Million for Plant Expansion

JAKARTA (Yosefardi) – PT Asia Pacific Fibers Tbk (POLY) allocates US$92 million fund for machine capacity and plant area expansion.

The company is still awaiting the government’s approval on debt restructuring of Texmaco Group amounting Rp30 trillion. POLY’s debt only totals around Rp1 trillion.

POLY suffered loss of US$17.98 million in first nine months of 2013 on revenue of US$434.39 million. In the same period of 2012, POLY suffered loss of US$62.13 million on revenue of US$436.66 million. Its assets totaled US$375.58 million while liability amounted US$1.47 billion.