Multi Agro Gemilang seeks new financing for investment
JAKARTA - PT Multi Agro Gemilang Plantation Tbk (MAGP) is seeking a new financing source for new investment, such as the development of a CPO processing plant in West Kalimantan. Currently the company is experiencing a Rp 429.99 billion deficit.
According to the company's stock exchange filing, MAGP's management will make new investment to increase the company's profitability this year, such as through the development of the West Kalimantan plant and maximising existing plants in Central Kalimantan and Aceh. In addition, the company will also improve efficiency, especially when it comes to plant rejuvenation without reducing the plant's technical and cultural aspect, and company operations.
The company's third quarter of 2019 financial report recorded a Rp 429.99 billion deficit, up from Rp 383.94 billion in the same period in the previous year. Equity was recorded at Rp 463.47 billion, down from Rp 510.17 billion in the same period in the previous year. (LK/MS)