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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 Sritex Claims Not Affected Directly by Widespread Corona Virus


				
			
			
Sritex Claims Not Affected Directly by Widespread Corona Virus PDF Print E-mail
Written by Maizer   
Friday, 14 February 2020

Corporate Communications of PT Sri Isman Rezeki Tbk. or Sritex Joy Citradewi said the widespread Corona Virus outbreak or COVID-19 had no direct impact on the company's production activities.

 

"(Imports from China) are not burdened because of the diversification of Sritex raw material sourcing. So it can be transferred, "Joy said.

 

Joy also mentioned that the rupiah strengthening factor did not significantly affect the company's export sales revenue. With a growth target of 7 to 9 percent this year, the company strives for an export sales composition of 60 percent.

 

The issuer of the foreign military clothing manufacturer is also still not considering expansion. "For this year, 60 percent of exports will be sought. Natural hedging makes the exchange rate not a big factor (for export sales), "Joy said.

 

The company has allocated a total capital expenditure of US $ 40 million to US $ 45 million this year. Source of funds will come from internal cash which will be sought to carry out engine maintenance.

 

Based on Bloomberg data, the issuer is known to have a market capitalization of Rp 4.29 trillion. The shares closed in the red zone with a decrease of 4 points or 1.87 percent to Rp 210 on Thursday, February 13, 2020.

 

As for the opening, the share price of PT Sri Isman Rezeki Tbk. with the issuer code SRIL had a rebound at the level of Rp 218 after being at the level of Rp 214 on the previous day.

 

 
		
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