PT Trisula International Tbk (TRIS), an integrated apparel provider company engaged in the textile and garment sector, is eyeing an increase in export sales following estimates of an improvement in the global economy. Bank Indonesia estimates that world economic growth has the potential to be higher than the previous estimate of 2.3%, following the abolition of the tightening policy or Zero Covid Policy in China. The reopening of mobility and the lifting of the zero covid policy had a major impact in the form of increasing demand for goods and services from China.
Following China, Japan's decision to also open up after the downgrading of the Covid-19 pandemic status became additional positive news for TRIS, considering that Japan is one of the export destination countries for the Company's products.
The decision of the two world economic giants, Japan and China, to open up after the downgrading of the status of the Covid-19 pandemic is expected to revive the slumping global economy, so that it will indirectly help the economic growth of TRIS export destination countries.
In turn, TRIS hopes that export demand from TRIS customer countries in international markets such as the United States, Australia, New Zealand, Singapore and Japan will increase.
TRIS's international customers are a number of large corporations in various fields, such as aviation, health and hospitality which entrust the procurement of their uniforms to the Company. In addition, TRIS also supplies various garment products for a number of international brands.
“Japan and China are two of the world's economic giants, whose every movement will greatly affect the global economy. Seeing that the two world economic giants have begun to open up after the downgrade of the pandemic status, there is growing hope that world economic activity will increase which will have a positive impact on the Company's export demand," said TRIS Main Director, Widjaya Djohan.
Demand for the export market itself has continued to increase since early 2022, as logistics and supply chains return to normal after the pandemic in several countries apart from China and Japan.
In this regard, TRIS management believes in the projection that sales and net profit in 2023 including export market demand can increase compared to 2022.