Global Market


Increasing order of Sritex textile CO.

Rejeki Isman (Sritex) of Indonesia is the largest textile company in southeast of Asia.
Jakarta Post reported on May 21th that Rejeki Isman (Sritex) is hopeful to boost its net profit by 41% with the increasing of orders from China.
At this stage, the company are making preparation for IPO (Initial Public Offering), its net profit is predicted to reach about 330 00 thousand dollars. At the press conference, the company says that China is its target of export for the large population base and increasing of disposable income, which means the potencies of retail industry.
The export amount of this year shall arrive at 510 million IDR comparing 410 million IDR of last year, increasing by about 24%.
The company has get an apparel order worth 30000 thousand dollars from Japanese clothing giant UNIQLO. Besides, Sritex has signed two other orders for providing 4 million in 2014 and 8-12 million pieces in 2015, each worth 50 million dollars and 150 million dollars.
At the same time, an apparel order worth 300 billion rupiah from Indonesian military shall be given to Sritex, which has increased by 63% compared with last year.
With the increased cost of raw materials and labour, the advantages of Chinese apparel factory have been replacing by southeast countries like Indonesia. So insiders are afraid of the hollow-rization of Chinese shoe and clothing industry. However some experts pointed that China has the advantages at the sector of high-end manufacturing. Despite of the low labour costs, southeast countries lack of technicians, they do not have functioning supporting industries. The situation of mass transfer will not happen during at 3-5 years.

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