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Stake Holder : Textile Industry Needs Fundamental Changes

 

The Indonesian Textile Association (API) believes that the national textile and textile product (TPT) industry still has a bright future after the pandemic. The holding of the TPT Indo Intertex-Inatex 2022 exhibition on 10-13 August 2022 makes this industry more promising. API General Chair Jemmy Kartiwa Sastraatmaja said the holding of this year's Indo Intertex-Inatex exhibition would trigger optimism and investment interest among national textile business players in the post-Covid-19 pandemic. "We also hope that holding this event will further echo the spirit that the textile industry is not a sunset industry and still has a long and bright future," he said in a written statement, (7/8/2022).

 

Fitch Ratings has raised the issuer's Long-Term Default Rating (IDR) rating from Indonesia-based garment manufacturer PT Pan Brothers Tbk (PBRX) to 'CCC-' from 'RD'. Fitch has also upgraded the senior rating of Pan Brothers' USD171 million unsecured notes due December 2025, issued by PB International BV, to 'CCC-' with a Recovery Rating of 'RR4' from 'C'/'RR4'. At the same time, Fitch Ratings Indonesia has upgraded Pan Brothers' National Long-Term Rating to 'CCC-(idn)' from 'RD(idn)'. The increase follows the completion of the Pan Brothers syndicated loan and restructuring of the senior unsecured note on July 1, 2022.

 

The Indonesian Textile Association (API) believes that the national textile and textile product (TPT) industry still has a bright future post-pandemic with the holding of the TPT Indo Intertex-Inatex 2022 exhibition which will be held August 10-13, 2022. API Chair Jemmy Kartiwa Sastraatmaja hopes that the holding of the Indo Intertex-Inatex exhibition this year will trigger optimism and investment interest among national textile business players in the post-Covid-19 pandemic. "We also hope that holding this event will further echo the spirit that the textile industry is not a sunset industry and still has a long and bright future," he said, Sunday, August 7, 2022.