Lobatse auto plant suffers losses in debut year

PAT BW’s poor performance for the year dragged down its parent group, Pasdec Resources SA, to a ZAR38.14 million (P29.7 million) loss for the financial year ended December 31, 2016.

PAT BW is the only commercially operating entity of Pasdec Resource’s SA, which is also a subsidiary of a Malaysian company. Prior to 2015, the Malaysian subsidiary, which manufactures automotive wiring harnesses for globally leading vehicle brands such as Nissan and Volkswagen, was based in Brits near Pretoria.