Sri Rejeki Isman (Sritex), an integrated textile manufacturer, is offering 5.6 billion new shares (equivalent to 30 percent of its total stock equity) to the public through an initial public offering (IPO) on the Indonesia Stock Exchange (IDX). The company expects to reap about IDR 1.34 trillion (USD $136.7 million) in new funds through this IPO. The offering period is from 10 to 12 June 2013 and its listing debut is scheduled for Monday 17 June 2013. Underwriter for the IPO is Bahana Securities.

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About 1.80 percent of global demand for textiles and textile products is met by Indonesian textile exports according to Indonesia's Ministry of Industry. The value of the country's textile exports is estimated at USD $12.6 billion. However - and in line with Indonesia's economic expansion - the ministry targets to meet four to five percent of overseas textile demand. The ministry asked the Indonesian Textile Association (API) to prepare a roadmap together for expansion.

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Indonesian exports of textile and textile products have already reached the value of USD $12.4 billion in 2017, exceeding the Indonesian Textile Association (API)'s target of USD $11.8 billion. The final (full-year) 2017 figure is expected to be higher as the last couple of weeks of 2017 are not included in the USD $12.4 billion. Robust textile demand from Southeast Asia and the Middle East was a decisive factor why the target was achieved.

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Foreign exchange earnings are important assets for a national economy. Therefore, many nations have recently been taking a much more protectionist approach vis-à-vis trade in an effort to strengthen their trade positions, generate trade surpluses, hence see the inflow of more foreign exchange earnings. Foreign exchange assets support a stable local currency as well as economy.

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There emerged rising competition on the textile market in the Asia-Pacific after wage growth occurred in the textile industries of China and Bangladesh. This situation should be positive for Indonesian textile and garment manufacturer Sri Rejeki Isman (Sritex) because rising production costs of foreign competitors improve the competitiveness of Sritex products.

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The batik industry of Indonesia has been under pressure. One stakeholder explained that this industry is currently facing five main challenges. Batik - recognized as a World Cultural Heritage by the UNESCO in 2009 - is traditional textile produced by using a technique of wax-resist dyeing applied to cloth. There are several countries (as well as several regions in Indonesia) that produce batik but the most famous batik originates from the island of Java.

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