Sat, 06 Jun 2009
The Jakarta Post , Jakarta

Players in the furniture and crafts industry still see gloomy prospects for the coming months as signals on possible recovery still remain over the horizon, an association says.

The negative impact of the global downturn on the furniture and handicrafts industry was confirmed in the first quarter of 2009 as total exports slumped by 35 percent compared to the same period last year.

These conditions, say Association of Indonesian Furniture and Handicraft Exporters (Asmindo), are likely to persist in the first half of 2009.

"I know there are signs of improvement in the country's first quarter economic reports. It is also true that some Asmindo's members reported a slightly increase in their May sales. However, furniture sales are yet to recover," Asmindo chairman Ambar Tjahjono said Thursday.

The increase in May was too small to think in terms of recovery. Ambar said, "The increase in sales was too small."

The Central Statistics Agency (BPS) reported exports of furniture, bedding, cushions, and stuffed furnishing from the beginning of January until the end of April reached US$578.2 million, a decline of 24 percent year-on-year.

Despite representing a fall in exports, the BPS said the total value of exports in April actually brought the sector back into the top 10 sectors with the largest export values.

However, Ambar said, this was not enough reason to expect a recovery yet. BPS said total exports for April reached $141.2 million, still down 14.9 percent from March.

A key variable that could turn the tables for the better was government support, something that was still largely absent, Ambar said. "Whether there is a crisis or not, there is no change in regulations in the industry," he said referring to the slow capacity of government to adapt to the challenge at hand.

"Asmindo met government representatives this morning and talked about our difficulties.

"From the meeting, I concluded that government does not have any special plan to help our industry. The economic slowdown does not have any impact on their policies," Ambar said.

The consequences of the decline in exports and lack of government support have been very bad for the industry. Producers are struggling to pay their employees and trying their best to avoid layoffs.

Alit Wisnawa, a furniture entrepreneur from Denpasar, Bali said that he has repeatedly postponed paying the salaries of his employees.

PT Kambuna Jaya, Alit's company, suffered a decline of about 25 percent in sales values since November last year.

"These circumstances are about the same as in other furniture companies in Bali," he said.

In an attempt to reduce costs and increase efficiency, Alit cut the working hours for his employees, reduce the cost of salaries.

Disappointed with the government, the association said it would turn to the lawmakers for support and also to propose suggestions.

"At least Asmindo can help the lawmakers get new information regarding the furniture sector. For the government, our associations just have to adapt to the current situation," Ambar said. (mrs)



News Search/Filter
Transaction Rates
25 May 18
Buy
Sell
AED1
3,850.96
3,850.96
AFN1
196.95
196.95
ALL1
130.92
130.92
AMD1
29.32
29.32
ANG1
7,879.79
7,879.79
AOA1
60.26
60.26
ARS1
575.53
575.53
AUD1
10,708.97
10,708.97
AWG1
7,913.45
7,913.45
AZN1
8,308.55
8,308.55
BAM1
8,476.02
8,476.02
BBD1
7,072.65
7,072.65
BDT1
167.37
167.37
BGN1
8,477.62
8,477.62
BHD1
37,460.09
37,460.09
BIF1
7.99
7.99
BMD1
14,145.30
14,145.30
BND1
10,512.24
10,512.24
BOB1
2,046.94
2,046.94
BRL1
3,876.07
3,876.07
BSD1
14,145.30
14,145.30
BTC1
105,899,478
105,899,478
BTN1
207.19
207.19
BWP1
1,427.85
1,427.85
BYN1
7,086.24
7,086.24
BZD1
7,036.94
7,036.94
CAD1
10,976.83
10,976.83
CDF1
8.76
8.76
CHF1
14,268.93
14,268.93
CLF1
617,159.97
617,159.97
CLP1
22.56
22.56
CNH1
2,218.34
2,218.34
CNY1
2,217.96
2,217.96
COP1
4.87
4.87
CRC1
25.01
25.01
CUC1
14,145.30
14,145.30
CUP1
554.71
554.71
CVE1
149.98
149.98
CZK1
642.82
642.82
DJF1
79.49
79.49
DKK1
2,225.99
2,225.99
DOP1
285.56
285.56
DZD1
121.59
121.59
EGP1
789.46
789.46
ERN1
941.13
941.13
ETB1
513.99
513.99
EUR1
16,581.27
16,581.27
FJD1
6,857.51
6,857.51
FKP1
18,930.22
18,930.22
GBP1
18,930.22
18,930.22
GEL1
5,726.61
5,726.61
GGP1
18,930.22
18,930.22
GHS1
3,041.94
3,041.94
GIP1
18,930.22
18,930.22
GMD1
299.95
299.95
GNF1
1.57
1.57
GTQ1
1,896.70
1,896.70
GYD1
67.71
67.71
HKD1
1,802.47
1,802.47
HNL1
592.76
592.76
HRK1
2,242.51
2,242.51
HTG1
219.77
219.77
HUF1
51.92
51.92
IDR1
1.00
1.00
ILS1
3,966.63
3,966.63
IMP1
18,930.22
18,930.22
INR1
207.19
207.19
IQD1
11.88
11.88
IRR1
0.33
0.33
ISK1
133.90
133.90
JEP1
18,930.22
18,930.22
JMD1
112.08
112.08
JOD1
19,936.92
19,936.92
JPY1
129.39
129.39
KES1
139.92
139.92
KGS1
207.06
207.06
KHR1
3.47
3.47
KMF1
33.69
33.69
KPW1
15.71
15.71
KRW1
13.09
13.09
KWD1
46,848.22
46,848.22
KYD1
16,973.01
16,973.01
KZT1
43.36
43.36
LAK1
1.69
1.69
LBP1
9.33
9.33
LKR1
89.47
89.47
LRD1
103.18
103.18
LSL1
1,119.33
1,119.33
LYD1
10,394.52
10,394.52
MAD1
1,493.28
1,493.28
MDL1
841.35
841.35
MGA1
4.32
4.32
MKD1
269.18
269.18
MMK1
10.44
10.44
MNT1
5.87
5.87
MOP1
1,749.93
1,749.93
MRO1
39.73
39.73
MRU1
396.11
396.11
MUR1
408.27
408.27
MVR1
912.02
912.02
MWK1
19.65
19.65
MXN1
722.40
722.40
MYR1
3,554.57
3,554.57
MZN1
234.11
234.11
NAD1
1,116.88
1,116.88
NGN1
39.31
39.31
NIO1
450.43
450.43
NOK1
1,746.35
1,746.35
NPR1
129.48
129.48
NZD1
9,801.28
9,801.28
OMR1
36,743.25
36,743.25
PAB1
14,145.30
14,145.30
PEN1
4,327.14
4,327.14
PGK1
4,332.66
4,332.66
PHP1
269.32
269.32
PKR1
122.28
122.28
PLN1
3,847.33
3,847.33
PYG1
2.48
2.48
QAR1
3,885.00
3,885.00
RON1
3,581.60
3,581.60
RSD1
140.29
140.29
RUB1
229.77
229.77
RWF1
16.32
16.32
SAR1
3,771.88
3,771.88
SBD1
1,790.84
1,790.84
SCR1
1,051.30
1,051.30
SDG1
783.50
783.50
SEK1
1,613.75
1,613.75
SGD1
10,554.57
10,554.57
SHP1
18,930.22
18,930.22
SLL1
1.80
1.80
SOS1
24.56
24.56
SRD1
1,894.12
1,894.12
SSP1
108.59
108.59
STD1
0.67
0.67
STN1
676.16
676.16
SVC1
1,616.54
1,616.54
SYP1
27.46
27.46
SZL1
1,119.88
1,119.88
THB1
441.84
441.84
TJS1
1,574.14
1,574.14
TMT1
4,030.02
4,030.02
TND1
5,576.26
5,576.26
TOP1
6,206.88
6,206.88
TRY1
2,973.29
2,973.29
TTD1
2,098.57
2,098.57
TWD1
472.64
472.64
TZS1
6.19
6.19
UAH1
541.50
541.50
UGX1
3.76
3.76
USD1
14,145.30
14,145.30
UYU1
452.88
452.88
UZS1
1.76
1.76
VEF1
0.17
0.17
VND1
0.62
0.62
VUV1
132.14
132.14
WST1
5,503.79
5,503.79
XAF1
25.27
25.27
XAG1
235,660.45
235,660.45
XAU1
18,451,763.69
18,451,763.69
XCD1
5,234.05
5,234.05
XDR1
20,072.17
20,072.17
XOF1
25.27
25.27
XPD1
13,826,603.35
13,826,603.35
XPF1
138.95
138.95
XPT1
12,891,716.09
12,891,716.09
YER1
56.50
56.50
ZAR1
1,138.22
1,138.22
ZMW1
1,377.87
1,377.87
ZWL1
43.88
43.88
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