JAKARTA (Yosefardi) – Feed producers PT Malindo Feedmill Tbk (MAIN) suffered loss of Rp84 billion in the first half of 2015, against profit of Rp88 billion in the corresponding period of 2014.

Net sales was flat at Rp2.3 trillion but cost of goods sold increased to Rp2.12 trillion from previous Rp2 trillion. Then, gross profit dropped 39% to Rp180 billion from earlier Rp295 billion.

Financial cost also jumped 59% to Rp67.35 billion from Rp42.6 billion in the first half of 2014. Its assets reached Rp3.67 trillion while liability amounted Rp2.67 trillion.

Trading in MAIN has been resumed today following the company’s announcement of rights issue plan for 447.75 million new shares, representing 20% of its enlarged capital, targeting to raise Rp716 billion.

The rights issue proceed will be used to pay Rp322 billion debts to Bank Central Asia and Rp267.7 billion debts to PT Bank CIMB Niaga Tbk (BNGA).

Dragon Amity Pte. Ltd., the controlling shareholder, will absorbe 230.49 million units of MAIN’s rights issue. Trading of rights is scheduled for October 2015.