JAKARTA - PT Asia Pacific Fibers Tbk (POLY) plans to increase export composition in 2019. Currently, the composition of the company's exports is in the range of 25% to 30%.
Ravi Shankar, President Director of POLY, said that this year the company had several difficulties. One of them is demand which tends to decrease from the market, then in the second quarter of this year there is Eid holiday. Ravi added that the utilization of knitting and weaving factories also declined so that the company's revenue also fell.
"We see in Q1 and Q2, domestic market is still weak. We are targeting exports," said Ravi Shankar to idnfinancials.com
The company sees that the biggest potential of the export market is to America. In addition, the company has also reached Europe and India. Several other countries have the potential to become POLY's export market, including the Pacific, Egypt, North Africa and Portugal. (LM)