JAKARTA - PT Saranacentral Bajatama Tbk (BAJA) claimed that it lost Rp 99.76 billion in the first quarter (Q1) of 2020 due to the weakening of the rupiah against US dollars.
Handaja Susanto, President Director of PT Saranacentral Bajatama Tbk (BAJA) said that his party was losing money despite the fact that its consolidated income rose by 20% YoY in Q1 2020 to Rp 290.51 billion.
So far, the company has to purchase imported steel raw materials, because local steel raw materials are considered to be inadequate to meet the company's standards in terms of volume requirements and prices. (LK/AR)