ID :
26395
Fri, 10/24/2008 - 19:53
Auther :
Shortlink :
http://m.oananews.org//node/26395
The shortlink copeid
NATIONAL PAPER INDUSTRY BEGINS TO FEEL GLOBAL CRISIS' IMPACT
Jakarta, Oct 24 (ANTARA) - Slowly but surely the US financial crisis is already beginning to affect Indonesia's national paper industry, a spokesman said.
"Orders domestically and for exports have dropped drastically causing the price of paper to fall. Orders from buyers are not like in previous months ," director of PT Surabaya Agung Industri Pulp $ Kertas Tbk. (SAP), Sinduchahjana Sulistyo, said here on Friday.
He said under the current crisis, buyers were waiting for the right time to get a cheap price. He said the appreciation of the US dollar against the rupiah had also helped disrupt the flow of payments from customers.
"Sales of paper in the domestic market are done in US dollars and therefore customers immediately stop payments because of their limited supply of dollars and also because they wait for the right time to buy dollars," he said.
He said the crisis had also affected liquidity referring to the case of Bank Mandiri (corporate creditor) that could not negotiate corporate export drafts and as a result the company had to conduct collection of the drafts that would take three to four weeks from the day of ship departure.
"Orders domestically and for exports have dropped drastically causing the price of paper to fall. Orders from buyers are not like in previous months ," director of PT Surabaya Agung Industri Pulp $ Kertas Tbk. (SAP), Sinduchahjana Sulistyo, said here on Friday.
He said under the current crisis, buyers were waiting for the right time to get a cheap price. He said the appreciation of the US dollar against the rupiah had also helped disrupt the flow of payments from customers.
"Sales of paper in the domestic market are done in US dollars and therefore customers immediately stop payments because of their limited supply of dollars and also because they wait for the right time to buy dollars," he said.
He said the crisis had also affected liquidity referring to the case of Bank Mandiri (corporate creditor) that could not negotiate corporate export drafts and as a result the company had to conduct collection of the drafts that would take three to four weeks from the day of ship departure.
