Asiaplast Industries Tbk.

Brief of Company Background

The company producer of polyvinyl chloride (PVC) sheet and imitation leather, was established in Medan in 1992. The name of the company has changed several times, and its current name has been in only since June 1999. The polyvinyl sheet the company manufactures is used for tablecloths, floor carpeting, and tarpaulin, and provides the raw material for the production of household goods, stationery, bags, shoes, automobile fittings, children's toys, and furniture. Commercial production of imitation leather began only in November 1999. This product is used primarily in the manufacture of bags, shoes, automobile fittings, and stationery. On May 1, 2000, Asiaplast Industries went public in an IPO of 60 million shares, representing 23% of total stock, with the offering price set at Rp 600 per share. Funds raised in the IPO were put into business expansion, with 50% used for the purchase of a 5,000 ton per annum calender machine, 20% to strengthen capital, and the remaining 30% to retire debts owed to affiliated companies. As part of its plan to become a leading manufacturer of PVC sheet and imitation leather, the company has begun selling its products on the global market, beginning in Vietnam but with plans to expand to Taiwan and Japan. Initial export value of PVC sheeting came to about Rp 3 billion, with export volume accounting for 15% of the company's overall PVC sheet production capacity. To expand its export market, the company has established cooperation with Taichi Corp. to secure access for penetration of the market in Japan. Net sales in 2000 came from four product lines: imitation leather products (Rp 45.73 billion), PVC products (Rp 17.84 billion), laminated PVC (Rp 31.02 billion), and polished PVC (Rp 45.01 billion). The Company booked net loss worth IDR4.345 billion in 2005, lower than IDR7.415 billion in 2004. The company recorded sales at IDR264 billion in 2005, rising from IDR241 billion in 2004.

Shareholder List

Management