JAKARTA (Yosefardi) – PT Asia Pacific Fibers Tbk (POLY) plans no investment this year due to financial fraught. It has not concluded yet debt restructuring.
POLY allocates capital expenditure (capex) of US$10-20 million for this year, partly used to boost its electricity power capacity, funded by its major shareholder Damiano Investment BV (51.65%).
Other shareholders are KYOA Investment Limited (6.20%), PT Multikarsa Investama (5.26%), and public investors (36.89%).
POLY) booked net loss of US$529,022 in the first quarter of 2015, significantly improved from loss US$19.97 million in the same period of 2014. Revenue declined 22% to US$103 million from previous US$132 million. Gross profit was US$1.8 million against loss US$2.1 million in the first quarter of 2014.