SRIL and PBRX Issue Global Bond

Textile Stakeholders Request Strengthening Industrial Integration

Parliament Asks to Control Illegal Importation of Textiles

IKATSI Reveals Details of Import Violations

MOI Optimizes Sustainable Resources For Industrial Production

Britain Will Ban Imports From China

RPP on Industry and Trade is Less Favorable to Local

Textile Industry Optimistic Could Recover This Year

Trade Surplus, Textiles Industry Still in the Red Zone

APR Encourages Supply Chains as the Focus of the Road Map

Pakistan's Exports to Indonesia Supported by Textile Products

ARGO Optimistic Will Improve Performance in 2021

APSyFI : PLB Threatens to Eliminate US $ 8.3 Million Yarn Exports

Stake Holder : Textile Industry Needs Fundamental Changes

Employers and workers are currently arguing over the provisions for calculating labor wages for 2023. Currently, the determination of wages refers to the derivative of the Job Creation Law (UU) No 11/2020, namely Government Regulation (PP) No 36/2021. Employers insist that the determination of wages must refer to the applicable law, namely PP No 36/2021. And demanded the government be consistent with the policies that have been set. On the other hand, the Confederation of Indonesian Trade Unions (KSPI) and the Labor Party asked the government not to use PP No. 36/2021 as the basis for the formulation of the provincial minimum wage (UMP) and city/district (UMK) 2023.

PT Pan Brothers Tbk (PBRX) is still trying to maintain its business amidst the uncertainty that hit the textile and textile product (TPT) industry sector. For information, PBRX sales fell slightly by 1.15% year on year (YoY) to US$ 501.97 million per quarter III-2022. In the same period, net profit for the period attributable to owners of the parent entity PBRX fell 32.28% (YoY) to US$ 12.88 million. Pan Brothers Corporate Secretary Iswardeni said that the decline in PBRX sales was caused by product shipments that were delayed or shifted from the original schedule. Logistics or supply chain constraints also contributed to the slowdown in PBRX's performance until the third quarter.

As part of efforts to prioritize the Environmental, Social and Governance (ESG) sector, Matahari ("the Company"; stock code: "LPPF") in collaboration with Asia Pacific Rayon launched a textile waste management program on 16 November 2022. As part of the ESG Project Sunrise Matahari, this program encourages Matahari customers to participate in reducing textile waste through recycling processes for a better environmental future. In the first phase, the program focuses on the Nevada Denim Trade-In, which is held at three Matahari outlets, namely Supermal Karawaci (Tangerang), Metropolitan Mall (Bekasi) and Ciputra Mall (Jakarta).

The Indonesian Employers' Association (Apindo) asked the government to use Government Regulation (PP) No. 36 of 2021 concerning Wages as a reference in setting the minimum wage. "With the plan to stipulate a new formulation in calculating the 2023 UMP/UMK increase, it means that the government is annulling the government's joint efforts in drafting the Job Creation Law," said Apindo Chairman Hariyadi Sukamdani in a press conference in Jakarta, Wednesday. Hariyadi said, if there is a substance change in PP 36/2021, the labor-intensive sector, MSMEs and job seekers will suffer.

Textile and garment company, PT Trisula International Tbk (TRIS) continues to benefit from increased sales in the export market. Until the third quarter of 2022, TRIS' net profit jumped by 320% year on year (YoY), which was supported by an increase in net sales during the first nine months of 2022. According to the financial statements published by the Company, until the third quarter of 2022, TRIS recorded a net profit for the year of IDR 51.65 billion, an increase from IDR 12.30 billion in the same period in 2021. Meanwhile, net profit attributable to entity owners parent company was recorded at IDR 27.91 billion as of the end of last September.