Bad Receivables Entangle Cable Factories

By Editorial Team 18/08/2020
Perusahaan bangkrut
Summary

Delays in PT PLN (Persero) payments have disrupted national cable industry performance. The Cable Producers Association (Apkabel) said that many factories had ceased operating due to a lack of working capital as the state electricity company has yet to repay its obligation.

Apkabel Chairperson Noval Jamalullail said the average utilization of the national cable industry has fallen to below 20 percent as PLN had only paid 20 percent or Rp 900 billion of the total receivables, which reached Rp 4.5 trillion. "That was 2019 bill. The national electric cable industry is still supplying PLN with its products until the first quarter of 2020," said Noval.

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