BATAM: The global economic crisis has caused a Rp 5 billion in loss to PT Sat Nusapersada Tbk, the first local manufacturing industry to go public in Batam, Riau Islands, with a fall in business orders from consumers.
President director Abidin told The Jakarta Post on Friday after a shareholders meeting in Batam that the loss was the first it had ever had since its establishment in 1990.
"We've never experienced a loss before. It's clear we're now unable to avoid the crisis, whose impact is big, especially on the electronics sector," he said.
He added that in the first three quarters of 2008, the company had positive growth. It dropped sharply in the last quarter, following a drop in the business demand in the global electronics sector. - JP
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