JAKARTA – PT Cottonindo Ariesta Tbk (KPAS), a cosmetic cotton manufacturer, had yet to operate fully by the time the third quarter of 2022 ended. It still suffers the effect of the COVID-19 pandemic since 2020.
“In 2022, the factory has not commenced any operation yet as the funds from investors have not arrived,” Marting Djapar, President Director of KPAS explained in the information disclosure quoted Monday (3/10).
According to Djapar, the company’s operational activities are restricted to maintenance of tools and factory machine, as well as administrative processes in its headquarter in Bandung, West Java. Some of the employees in Bandung headquartered have been laid off, especially the ones in the marketing division. It only manages 19 people as of now, and the working schedule is adjusted to the company’s needs.
The utilisation of KPAS’s factory once peaked at 46.4% in March 2021. Now, the factory utilisation is down to 0% from the initial installed capacity of producing 905,550 tons of cotton each month. (LK/ZH)