PT Trisula Textile Industries Tbk has only managed to absorb Capex worth IDR 4 billion from an allocation of IDR 16 billion in September 2022. The Capex was for machine restructuring and additional equipment.
Trisula Textile, famous for its flagship product of Belline fabrics, was established in 1969 in Bandung. Since its establishment, the company has produced fabrics for uniforms and ready-to-wear fashions. Apart from serving the domestic market, the company has also expanded its businesses to Southeast Asian countries, Japan, Middle East countries, the United Kingdom, the United States and Mexico.
Expenditure in 2022
Trisula Director Heru Jatmiko said that the company was optimistic it would grow positively by the end of 2022.
“We consider the trend of retail sales is still increasing. We estimate that sales growth at the end of the year will not change much from the growth rate that we achieved until the third quarter of this year,” he said as quoted by Kontan on December 11, 2022.
Jatmiko explained that the domestic market demand remained positive in the third quarter of 2022, helping Trisula to record sales of IDR 312.66 billion, a 6% increase from IDR 293.66 billion in the same period in 2021.
As for next year, he added, Trisula would face the 2023 global recession. However, the company would still be positive that sales would continue to grow and Indonesia’s economy was expected to remain positive.
As of 2022, the company’s positive growth came from textile products and its retail sector. In 2023, the company’s strategy would remain the same such as adding retail shops and strengthen digital platforms.
“To support online sales, Trisula Textile has strengthened its digital channels by selling on the Yukshopping.com, an e-commerce platform with the Trisula Group, which began in 2021,” Jatmiko said.
Trisula Textile would continue to innovate its textile products, providing tailored requests from customers as well as preparing for the uniform segment as many companies have been operating normally lately as the COVID-19 pandemic has receded.
Textile industry faces hardest impacts
Textile industry has been facing the worse impacts from the COVID-19 pandemic as factories and retailers had to shut down to curb the spread of the coronavirus. Now that the economy is slowing recovering, the world is facing a threat of global recession as well as tensed geopolitical condition with the Russia-Ukraine war and the China-US heated political ties.
The global economy crisis and the increasing prices of commodities added to the factors that compounded the rise of textile industry. Another challenge includes the rise of carbon tax that is affecting the industry in the long run.
