JAKARTA (Yosefardi) – State plantation firm PTPN III Holding needs fresh money or injection of Rp9 trillion from the government, used to pay debts and to fund expansion, Investor Daily reported this morning.
Currently the company has debt of Rp33.24 trillion. PTPN III is holding company for PTPN I-XIV. Per December 2015, PTPN III’s assets reached Rp109.72 trillion. It suffered loss of Rp613.27 billion last year. The Company booked sales of Rp36.21 trillion.
PTPN III produced 1.8-2 million tons of crude palm oil (CPO) last year with plantation area of 440,000 hectares.