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Losing Company, Argo Pantes Managing Director Resigns PDF Print E-mail
Written by Maizer   
Friday, 29 November 2019

PT Argo Pantes Tbk (ARGO) President Director Deepak Anand resigned from his position as of 30 November 2019. Based on the information disclosure of the Indonesia Stock Exchange (IDX), Deepak stated the reason for his resignation was a personal matter.

 

"I appreciate the opportunity given to me, as long as I work at this company, especially with direction, professional guidance, and support. I hope that the company will always be successful in the future," Depak wrote in his resignation letter, quoted on Friday (29/11 / 2019).

 

This resignation has also been given to the Financial Services Authority (OJK) as the capital market supervisor.

 

Previously this textile company was facing an onslaught of Chinese products, and had an impact on reducing income to employees. Until June 2019 Argo Pantes employees decreased 150 people to 722 people.

 

Whereas in December 2018 the number of Argo Pantes employees was still 872.

 

As of September 2018, the company recorded net sales of US $ 18.24 million, down 21.44% compared to the same period in 2018 valued at US $ 23.22 million. The company also recorded cost of goods sold of US $ 17.08 million, and a loss of US $ 5.59 million.

 

 

 

 
		
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