(Focus Taiwan) -- The Taiwan-based Formosa Plastics Group (FPG), a global plastics and petrochemicals leader, forecast Monday that its second half revenue would fall by about 20-30 percent from the first half, amid uncertainties over the global economy, China's tighter monetary policy, and the temporary closure of six of the group's plants.
FPG Chairman William Wong estimated at the shareholders meeting of the group's flagship unit Formosa Plastics Corp. that group revenue would fall by between NT$150 billion (USD 5.18 billion) to NT$230 billion in the second half of the year,
Formosa Plastics Chairman Lee said that because China has been one of the world's major chemical and plastic markets, demand will not rebound unless China relaxes its monetary policy.