Indonesian poultry and feed milling company PT Malindo Feedmill has announced that it will postpone the expansion of its production plants until 2016 in response to current unfavorable economic conditions.
"This year is very challenging as the economic slowdown will continue to depress the industry," Rewin Hanrahan, director of the company said following a shareholders' meeting held on Thursday in the capital Jakarta.
The company had had plans to expand its business by developing day-old chicken (DOC) breeding farms in several regions, these included Kalimantan and Sumatra.
"We will postpone it until next year while monitoring the market conditions and raw material prices," Rudy Hartono Husin, corporate secretary of the company said.
Malindo had allocated capital expenditure of up to