{
    "success": true,
    "data": {
        "id": 1372099,
        "msgid": "quality-management-in-crisis-situation-1447893297",
        "date": "1998-11-24 00:00:00",
        "title": "Quality management in crisis situation",
        "author": null,
        "source": "",
        "tags": null,
        "topic": null,
        "summary": "Quality management in crisis situation Instability and the rupiah's depreciation are difficulties faced by all business sectors. But for publicly listed PT Timah Tbk, these conditions have had a positive effect on its profits because 95 percent of its product is exported, while the remaining 5 percent is sold domestically. Only 15 percent of its production costs are in U.S. dollars. PT Timah Tbk's marketing operations are handled through its Bangka island head office.",
        "content": "<p>Quality management in crisis situation<\/p>\n<p>Instability and the rupiah's depreciation are difficulties<br>\nfaced by all business sectors. But for publicly listed PT Timah<br>\nTbk, these conditions have had a positive effect on its profits<br>\nbecause 95 percent of its product is exported, while the<br>\nremaining 5 percent is sold domestically. Only 15 percent of its<br>\nproduction costs are in U.S. dollars.<\/p>\n<p>PT Timah Tbk's marketing operations are handled through its<br>\nBangka island head office. It has two marketing subsidiaries in<br>\nLondon and New Jersey.<\/p>\n<p>Between January and June 1998, the company earned a net profit<br>\nof Rp 305.7 billion compared to Rp 57.3 billion in the same<br>\nperiod last year.<\/p>\n<p>PT Timah Tbk's President Director Erry Riyana Harja Pamekas<br>\nsaid: \"The company is taking advantage of the rupiah's<br>\ndepreciation by mining lower grade deposits and lowering its tin<br>\nprices, which has resulted in higher sales revenues because of<br>\nthe higher dollar value against the rupiah. It has instigated a<br>\npolicy of hedging a proportion of its sales on the LME using<br>\nfutures and options. The sole aim of this hedging is to protect<br>\nthe company against any sudden downturn in tin prices.\"<\/p>\n<p>Environmental issues surrounding the development of project<br>\nlocations are factors that must be constantly anticipated, which<br>\nis reflected in the environmentally responsible PT Timah Tbk's<br>\ncorporate mission and its Timah's Vision 2000.<\/p>\n<p>Its environment protection efforts have been internationally<br>\nrecognized by ISO 14001 certification by Aspects Certification<br>\nServices of London for its Metallurgy Center at Mentok, Bangka<br>\nisland.<\/p>\n<p>Erry said Timah's key to success has been high quality and<br>\nprofessional human resources. Erry suggested that decision-making<br>\ntransference, creation of free-flow of information and offering<br>\nincentives in order to attract investment are some factors that<br>\nmust be addressed in the mining sector.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/quality-management-in-crisis-situation-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}