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

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).

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.

The number of claims for the Job Loss Guarantee (JKP) program increased by 105% in October 2022 compared to September 2022. The increase in JHT claims coincided with the issue of mass layoffs that befell workers in the garment and textile sectors. Based on BPJS Ketenagakerjaan data, JKP claims paid in October amounted to Rp 2.1 billion. Meanwhile, in September it was 1.05 billion. This means that there is an increase in JKP claim payments to IDR 1.11 billion. The total number of JKP claims paid as of October 2022 is 7.09 billion. In total, the total JKP benefits that have been paid are IDR 25 billion to 6,872 beneficiaries.

The global crisis as a result of the impact of the Russian-Ukrainian war began to be felt by the textile industry in Indonesia. Coordinator of Industrial Relations of the Indonesian Textile Association (API) Andrew Purnama said, Indonesia's textile exports dropped dramatically after the Russia-Ukraine war. "Indonesia's export market is falling again, because there is an ongoing war. So indeed, when the war continues it has an impact on the economic crisis. That's why now the demand for domestic exports is falling," Andrew said after a dialogue with the Coordinating Minister for Human Development and Culture (Menko PMK ) Muhadjir Effendy at PT Kahatex, Sumedang, West Java, Wednesday (11/16/2022).

Recently there has been widespread news about the issue of massive layoffs (PHK) in labor-intensive industries. Responding to this, the Minister of Investment / Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia said the layoffs were due to the impact of the company's relocation. "I checked, yes it is indeed closed but only relocation," said Bahlil, Tuesday (11/15). According to him, the relocation of the company is not a big problem. Moreover, relocation is still being carried out in Indonesian territory.