Thu, 31 Dec 2009
From: The Jakarta Globe
By Irvan Tisnabudi
The nation’s textile industry has been dealt a double blow by the global economic slowdown and the imminent Asean free-trade agreement with China, with more than half of the manufacturers here turning into mere trading houses and 155 producers going out of business in 2009.

With demand hit by the global crisis, production more costly due to high electricity prices, and the expected arrival of a flood of cheap Chinese goods, many textile producers believe selling imported garments is now more profitable then producing domestically, Benny Soetrisno, chairman of the Indonesian Textile Association (API), said on Wednesday.

As many as 155 textile producers went bankrupt in the last year, according to the API. “Some [owners] tried their luck at other businesses such as property, but what concerns me most is that more than half of them have now become traders of textile products,” Benny said.

The shift is worrying because he believes trading companies will make a smaller contribution to the economy than producers.

“By becoming traders, these businessmen had to lay off their workers, and what makes it even worse is that most of the traders import products from China and export them to countries like Colombia,” Benny said.

Export revenue from textiles declined to $7.8 billion this year through October, 11.3 percent lower than the in the year-earlier period.

For the full year, the API predicts revenues will fall to $9.4 billion, a 9.9 percent drop from 2008.

Benny, who is also a deputy chairman of the Indonesian Chamber of Commerce (Kadin), believes Indonesia is not ready for the free-trade agreement because it is still lags behind its neighbors in many areas, including better power infrastructure.

Indonesian businesses also face high interest rates. Local banks still charge average interest of around 14 percent on loans to manufacturers, compared to about 6 percent in China.

“The lowering of interest rates for manufacturers would have a snowball effect on the growth of industries such as textiles compared to other methods,” said Chris Kanter, another Kadin deputy chairman.


Thu, 31 Dec 2009
From: JakChat
Comment by Marmalade
Ruining the very fabric of society.


Thu, 31 Dec 2009
From: JakChat
Comment by Vulgarian
Mercy.

/me slits wrists.


Thu, 31 Dec 2009
From: JakChat
Comment by Marmalade
Don't you appreciate my high-brow wit?


Thu, 31 Dec 2009
From: JakChat
Comment by Vulgarian
You just haven't cottoned on to bespoke humour.


Thu, 31 Dec 2009
From: JakChat
Comment by Marmalade
Silky smooth as always. Now button it.



News Search/Filter
Transaction Rates
12 Dec 18
Buy
Sell
AED1
3,980.52
3,980.52
AFN1
192.82
192.82
ALL1
133.71
133.71
AMD1
30.10
30.10
ANG1
8,239.40
8,239.40
AOA1
47.25
47.25
ARS1
386.80
386.80
AUD1
10,546.80
10,546.80
AWG1
8,122.90
8,122.90
AZN1
8,588.07
8,588.07
BAM1
8,519.06
8,519.06
BBD1
7,310.60
7,310.60
BDT1
174.33
174.33
BGN1
8,462.51
8,462.51
BHD1
38,788.47
38,788.47
BIF1
8.13
8.13
BMD1
14,621.20
14,621.20
BND1
9,277.28
9,277.28
BOB1
2,116.42
2,116.42
BRL1
3,745.37
3,745.37
BSD1
14,621.20
14,621.20
BTC1
48,766,427
48,766,427
BTN1
203.43
203.43
BWP1
1,365.93
1,365.93
BYN1
6,893.52
6,893.52
BZD1
7,255.26
7,255.26
CAD1
10,928.40
10,928.40
CDF1
8.97
8.97
CHF1
14,721.30
14,721.30
CLF1
603,832.49
603,832.49
CLP1
21.38
21.38
CNH1
2,121.38
2,121.38
CNY1
2,119.01
2,119.01
COP1
4.55
4.55
CRC1
24.44
24.44
CUC1
14,621.20
14,621.20
CUP1
567.81
567.81
CVE1
150.15
150.15
CZK1
640.05
640.05
DJF1
82.14
82.14
DKK1
2,217.77
2,217.77
DOP1
290.84
290.84
DZD1
123.16
123.16
EGP1
816.27
816.27
ERN1
974.91
974.91
ETB1
521.32
521.32
EUR1
16,556.31
16,556.31
FJD1
6,917.17
6,917.17
FKP1
18,265.31
18,265.31
GBP1
18,265.31
18,265.31
GEL1
5,518.90
5,518.90
GGP1
18,265.31
18,265.31
GHS1
2,987.99
2,987.99
GIP1
18,265.31
18,265.31
GMD1
294.93
294.93
GNF1
1.60
1.60
GTQ1
1,890.70
1,890.70
GYD1
70.04
70.04
HKD1
1,870.54
1,870.54
HNL1
599.11
599.11
HRK1
2,240.45
2,240.45
HTG1
193.28
193.28
HUF1
51.13
51.13
IDR1
1.00
1.00
ILS1
3,897.89
3,897.89
IMP1
18,265.31
18,265.31
INR1
202.13
202.13
IQD1
12.28
12.28
IRR1
0.34
0.34
ISK1
118.05
118.05
JEP1
18,265.31
18,265.31
JMD1
114.66
114.66
JOD1
20,604.76
20,604.76
JPY1
128.96
128.96
KES1
142.71
142.71
KGS1
212.82
212.82
KHR1
3.62
3.62
KMF1
33.63
33.63
KPW1
16.24
16.24
KRW1
12.95
12.95
KWD1
48,088.14
48,088.14
KYD1
17,549.53
17,549.53
KZT1
39.46
39.46
LAK1
1.70
1.70
LBP1
9.69
9.69
LKR1
81.55
81.55
LRD1
92.49
92.49
LSL1
1,021.94
1,021.94
LYD1
10,509.14
10,509.14
MAD1
1,535.27
1,535.27
MDL1
851.31
851.31
MGA1
4.12
4.12
MKD1
269.46
269.46
MMK1
9.29
9.29
MNT1
5.95
5.95
MOP1
1,816.71
1,816.71
MRO1
40.95
40.95
MRU1
401.68
401.68
MUR1
423.48
423.48
MVR1
946.35
946.35
MWK1
19.67
19.67
MXN1
724.43
724.43
MYR1
3,494.31
3,494.31
MZN1
240.16
240.16
NAD1
1,021.94
1,021.94
NGN1
40.17
40.17
NIO1
451.01
451.01
NOK1
1,704.67
1,704.67
NPR1
127.15
127.15
NZD1
10,069.62
10,069.62
OMR1
37,978.72
37,978.72
PAB1
14,621.20
14,621.20
PEN1
4,342.39
4,342.39
PGK1
4,344.99
4,344.99
PHP1
277.19
277.19
PKR1
104.84
104.84
PLN1
3,849.37
3,849.37
PYG1
2.46
2.46
QAR1
4,015.71
4,015.71
RON1
3,554.89
3,554.89
RSD1
139.87
139.87
RUB1
220.19
220.19
RWF1
16.56
16.56
SAR1
3,897.21
3,897.21
SBD1
1,839.20
1,839.20
SCR1
1,071.93
1,071.93
SDG1
307.16
307.16
SEK1
1,609.20
1,609.20
SGD1
10,644.43
10,644.43
SHP1
18,265.31
18,265.31
SLL1
1.74
1.74
SOS1
25.20
25.20
SRD1
1,960.47
1,960.47
SSP1
112.24
112.24
STD1
0.69
0.69
STN1
673.78
673.78
SVC1
1,671.33
1,671.33
SYP1
28.39
28.39
SZL1
1,021.98
1,021.98
THB1
445.49
445.49
TJS1
1,553.41
1,553.41
TMT1
4,177.50
4,177.50
TND1
4,976.06
4,976.06
TOP1
6,379.07
6,379.07
TRY1
2,727.34
2,727.34
TTD1
2,169.82
2,169.82
TWD1
475.16
475.16
TZS1
6.32
6.32
UAH1
527.59
527.59
UGX1
3.91
3.91
USD1
14,621.20
14,621.20
UYU1
454.02
454.02
UZS1
1.76
1.76
VEF1
0.05
0.05
VND1
0.62
0.62
VUV1
131.87
131.87
WST1
5,614.16
5,614.16
XAF1
25.23
25.23
XAG1
213,074.34
213,074.34
XAU1
18,177,432.99
18,177,432.99
XCD1
5,410.14
5,410.14
XDR1
20,310.04
20,310.04
XOF1
25.23
25.23
XPD1
18,210,486.98
18,210,486.98
XPF1
138.74
138.74
XPT1
11,484,902.75
11,484,902.75
YER1
58.40
58.40
ZAR1
1,020.15
1,020.15
ZMW1
1,226.39
1,226.39
ZWL1
45.35
45.35
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services