Friday, March 29, 2024

Trisula Textile absorbs IDR 4 billion of Capex in September 2022

Reading Time: 2 minutes
Journalist IBP

Journalist

yan

Editor

Interview

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.

Journalist IBP

Journalist

yan

Editor

 

Interview

SUBSCRIBE NOW
We will provide you with an invoice for your reimbursable expenses.

Free

New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.

Premium

$550 USD/Year

or

$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email inquiry@ibp-media.com

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.

FURTHER READING

The Indonesian Olefin, Aromatic, and Plastic Industry Association (Inaplas) has warned that the petrochemical megaproject is at risk of stalling, with the national GDP contribution of Rp41 trillion (US$2.8 billion) per year could be at stake if there is no continuation of a specific natural gas price program (HGBT).
Tsingshan Holding Group Co.’s business unit, the world’s top nickel producer, plans to build a battery factory in Indonesia as part of China’s latest investment efforts to boost the Southeast Asian country’s economy by downstreaming raw commodities.
The Contractor Partnership Contract (KKKS), Mubadala Energy RSC Ltd., has completed drilling the second exploration well in the South Andaman Working Area (WK), Tangkulo-1 Well on Sunday, March 24 2024).
The Bangka Belitung provincial administration seeks expedited approval for community mining permits (IPR) from tin mining blocks that have recently been designated as areas for community mining (WPR) amid the decline in tin exports from the province in the last three months.
A senior government official has revealed that a renewed auction on eight mineral and coal mining blocks will be held next week. 
State electricity company PT. PLN, through its sub-holding PLN Indonesia Power, and China Energy Engineering Group Co., Ltd (CEEC) have signed a Joint Development Study Agreement (JDSA) for exploration of green energy development in Sulawesi.Â