JAKARTA - PT Alfa Energi Investama Tbk (FIRE) lost a coal sales contract worth US$ 2.8 million due to the impact of a global of Covid-19 outbreak. The existence of this contract postpon, the company's revenue will affect to decrease in the first quarter of 2020.
As quoted from the disclosure of company information on Friday (3/20), Lyna, Corporate Secretary of PT Alfa Energi Investama Tbk (FIRE) said that the company experienced the cancellation of a coal sale and purchase contract with one of the buyers. "The existence of the Covid-19 pandemic has an impact on the company's financial performance," he said.
According to him, the company will adjust business strategies related to the rise of the Covid-19 outbreak. Especially at this time, the world oil price also experienced a weakening which also affected the decline in world coal prices. In the first quarter of 2019, the company's sales were recorded at Rp 226.06 billion, a significant increase compared to the sales of the same period in 2018 of Rp 90.43 billion. (LK)