Malaysia“s Poly Glass Fibre (M) Bhd (PGF) says its operations are not expected to improve as yet, despite the Malaysian and regional economies showing signs of recovering, as there is a time lag in t…
Malaysia“s Poly Glass Fibre (M) Bhd (PGF) says its operations are not expected to improve as yet, despite the Malaysian and regional economies showing signs of recovering, as there is a time lag in the recovery of the business environment in which the group is operating. The group posted a pre-tax loss of M$ 6.337 million for the year ended 28 February 1999 compared with a pre-tax profit of M$ 3.086 million in the corresponding period in 1998. Total turnover was M$ 26.304 million in 1999, down substantially from M$ 54.079 million in 1998. In reviewing its operations, the group said contribution from its glasswool plant in Penang is expected to improve in the current financial year with demand for the product in Malaysia and the Asean region increasing.