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Home arrow Latest News arrow Impact of Corona Virus, BCA Monitors the Textile & Garment Sector


				
			
			
Impact of Corona Virus, BCA Monitors the Textile & Garment Sector PDF Print E-mail
Written by Maizer   
Thursday, 20 February 2020

President Director of PT Bank Central Asia Tbk (BBCA) Jahja Setiaatmadja said the impact of the corona virus outbreak (Covid-19) could not be fully inventoried.

He stressed that he believed that companies in the country had a buffer stock scheme in dealing with the closest moment of Eid al-Fitr so that it was predicted not to have an immediate impact in the first quarter of 2020.

 

It's just that there are certain industries that have not been directly affected, but it is a concern of national banks with the record that until March 2020 this outbreak has not yet recovered.

 

"Nationally, in my opinion it is not too direct influence. But, what we must observe is that if the corona until March there is no certainty and many Chinese companies are closed not doing business, this is our fear of a shortage. Some interesting examples, garment textiles, are generally positive "Demand cannot export, our garments have positive things," Jahja said.

 

He said the impact of the corona virus had already occurred in China, as the SARS virus that occurred in 2005 also had an impact on Asia.

 

"What is different is that social media is not as lively now, [the difference with SARS 2005] the influence of China at that time was not as dominant as it is today. , "Jahja explained.

 

"What is happening is that many factories in Europe are relocating to China, there are a lot of raw materials, their prices are cheaper. This causes the dependency on China to be quite large. The question is how long the corona virus will be said to be safe, then China can be normal production."

 

For information, the death rate due to the corona virus in China continues to grow. Quoting AFP, the Hubei Province government which is the center of the spread of the virus, again reported 108 new deaths.

 

As a result, as of Thursday morning, the death rate due to corona in Panda has gone up to 2,112. If added to the deaths outside of China which numbered 6 people, the total number of deaths globally is 2,118 people.

 

 

 
		
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