JAKARTA. PT Polychem Indonesia Tbk (ADMG), a manufacturer of chemical ingredients for textile industry, has to be satisfied with a loss of USD 7.55 million in Q2 2022.
ADMG’s loss in Q2 2022 was apparently 44.6% higher than the loss seen in the first quarter, which amounted to USD 5.22 million. It was then accumulated to the total loss in H1 2022, which arrived at USD 12.77 million.
ADMG’s sales were also seen declining 3.3% year-on-year (yoy) in H1 2022 to USD 88.35 million. In the same period last year, its sales could reach USD 91.38 billion.
It was revealed that this consecutive loss in H1 2022 was caused by loss on equity investments based on the Fair Value Through Profit or Loss (FVTPL). Said loss on equity investment even clocked up to USD 7.09 million in H1 2022, as stated in the recently released financial statement. In the same period last year, the company still managed to gain USD 7.24 million in return of the channelled investment.
Until June 30, 2022, ADMG’s total assets amounted to USD 197.13 million, comprising current assets of USD 80.53 million and non-current assets of USD 116.6 million. Meanwhile, its total equity reportedly reached USD 158.73 million. (KR/ZH)