Expansion of manufacturing facility
Expansion of Manufacturing Facility in 1997, the Company increased its existing capacity for processing whole fish and also broadened the manufacturing scope by processing poultry feathers to produce hydrolyzed feather meal, a high protein feed ingredient. The following year in the grip of SEA’s financial crisis of 1998, Indonesian rupiah witnessed unprecedented depreciation of its currency. While steep depreciation severely affected imports, it was an opportunity for exporters, as the competitiveness of domestic goods got a sudden boost due to weaker rupiah. The domestic feed output had plunged due to its reliance on import of feed ingredients. Amidst falling domestic demand, export activities boosted Company’s revenue as well as net income during the period.