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APSyFI: The national textile industry is headed for a trade deficit, 2018 exports grow 1% and imports grow 14% (yoy).--IKATSI: The growth of the national textile industry is still hampered by floods of imports, Indonesia needs a clothing security law.


	
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Home arrow Latest News arrow Indonesian Textile Company is Overwhelmed by Chinese Products


				
			
			
Indonesian Textile Company is Overwhelmed by Chinese Products PDF Print E-mail
Written by Maizer   
Monday, 27 January 2020

The American trade war with China has a significant impact on Indonesia's domestic market for textile products. Because the President of the United States Donald Trump imposes a new tariff for imported products from China by 10% worth 300 billion dollars in his threat.

 

Since then the condition of the textile market is heating up, Indonesian companies oriented to the domestic market have complained a lot. The international credit rating agency, Fitch Rating in its notes in July 2019 explained that one of the companies which were victims of the impact of the invasion of Chinese products in Indonesia was PT. Delta Merlin World.

 

On July 16, 2019, S&P Global Ratings decided to cut out the long-term debt rating of PT. Delat Merlin the Textile World. In its publication, S&P said that DMDT has the potential to face difficulties in fulfilling obligations related to US $ 5 million syndicated loans that will mature in September 2019, although at the same time S&P projects that the company will continue to be able to pay interest from US senior unsecured notes $ 300 million in the same month.

 

The company, a subsidiary of Duniatex, was founded by Sugeng Hartono in Surakarta, PT. Delta Merlin World is one of the many victims of the onslaught of fabric products from China. The company is experiencing financial difficulties that indicate that the domestic textile market in Indonesia is experiencing a slump.

 

On the report of the Indonesian textile industry, the government then took a stand to discipline importers who weaken the domestic industry. That is because textile and garment-producing companies oriented to the domestic market are threatened with bankruptcy and closing.

 

Non-compliant importers are then disciplined by the Minister of Finance, Sri Mulyani. In his statement last October, there were 8 Bonded Logistic Centers scattered throughout Indonesia frozen and revoked import licenses. The following PLB and non-PLB are disciplined from the results of the supervision of the Directorate General of Customs and Excise:

 

Blocking 17 importers of PLB (4 Textiles and Textile Products (TPT) and 13 non-TPT) and 92 non-PLB importers (TPT) due to non-compliance in submitting SPT (SPT for PPN and annual PPT);

 

Blocking 27 importers of PLB (9 TPT, 2 iron steel, and 16 others) and 186 non-PLB importers (TPT) due to violations of existence, responsibility, nature of business, auditability, or inactivity;

 

Revocation and suspension of PLB permits for 8 PLB and 5 PLB importers (TPT) due to violations of existence, responsibility, nature of business, auditability, or inactivity;

 

Blocking of 1 importer of special API-P PLB due to selling raw materials without producing them first;

 

Blocking of 3 fictitious SMIs in PLB; and, Blocking of 2 API-U PLB importers because the goods did not arrive at their destination and further investigation will be carried out.

 

 
		
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