News
Scams in International Textile Business
In the month of June , we had an attempted Scam , so we thought of sharing this information to all our business partners so they can be aware in their business as well. We usually have set of Vietnam Suppliers for Various Spun Yarns . On beginning of June , we have booked couple of containers of spun Yarns with the TT payment terms with a factory based in Central Vietnam. We have received the contract copy from factory with bank details of a local Vietnamese bank from their official email id and all was ok. After few days, we received an email from same email id with a revised contract copy stating that the bank has been changed to "Barclays Bank PLC " based in Leicestershire with beneficiery name as the "Shipper Name". Very important points to be noted :
But , we had a doubt that why a Vietnamese factory should have a account Leicestershire. We immediately contacted the factory by email as well as by Phone whether this is correct or not. We got a reply from factory by email , yes the bank account change is genuine and you can transfer the money. But by phone factory confirmed that this scam/spam and the revised contract has been sent by some scammer. They immediately requested their IT people to check their email security and we have also checked on our side. We both couldn't find any irregularities or breaches in the email security. On further analysis , we found out they used a technique called “From” Spoofing and more details can be found in this website. ( Disclaimer : for Academedic knowledge only , we owe no responsiblity in the link you click. Thanks. ) Good thing is since we have contacted shipper directly by phone/whatsapp we avoided sending money to this bank account. However it still remains a mystery :
Sadly, even now, we have no answer to these questions. So, friends , let this be a learning to all of us and please be aware of such scams and double check when we are sending payments to avoid. We publish this on goodwill and for awareness. Thank you. TEXCORP INTERNATIONAL, PT INDONESIA |
Businesses Urge Indonesian Gov't to Sign Free Trade Deals
11 September 2017 Indonesian entrepreneurs urge the central government to sign more bilateral free trade agreements because Indonesia's export products currently miss out on competitiveness as regional counterparts - such as those in Malaysia, Thailand and Vietnam - can enjoy little or zero import duties under such agreements with specific trading partners, while the Indonesian government remains hesitant to be engaged in these deals. Basically there is one reason why the Indonesian government is not keen on signing free trade agreements (FTA), comprehensive economic partnership agreements (CEPA), comprehensive economic cooperation agreements (CECA) or preferential trade agreements (PTA). The reason is that Indonesia is regarded not competitive enough to compete with foreign counterparts on the international market (especially in terms of manufactured goods), while at the same time the huge 260 million population of Indonesia (which is characterized by growing per capita GDP) would become a great market for (cheaper yet higher quality) foreign products imported under the trade deal. Hence, the government fears these trade deals will only result in a huge inflow of foreign products, while the rise in Indonesian exports would be limited. Therefore, Indonesia is currently only involved in two bilateral trade deals: (1) Indonesia-Japan EPA (2008) and (2) Indonesia-Pakistan PTA (2013). Hariyadi Sukamdani, Chairman of the Indonesian Employers Association (Apindo), said there exist differences among Indonesian ministries about whether it is positive or negative to engage in trade deals. Meanwhile, Shinta Widjaja Kamdani, Vice Chairwoman of the Indonesian Chamber of Commerce and Industry (Kadin), says the lack of will of the Indonesian government to sign these deals is the logical consequence of Indonesia being late in opening up investment for (foreign) investors. This has resulted in limited investment in, for example, Indonesia's manufacturing industry and therefore these products lack competitiveness (in terms of price and quality) compared to products manufactured by regional counterparts (in Malaysia and Vietnam) One sector that is negatively affected is Indonesia's textile and textile products sector. In full-year 2016 Indonesia shipped USD $12.3 billion worth of textile and textile products to the European Union (EU). Vietnam's textile and textile product exports to the EU, however, totaled USD $30 billion in the same year, a much more impressive figure. Kamdani said this difference is primarily caused by Indonesian textile exporters having to face import tariffs up to 10 percent, while Vietnam can ship these products to the EU for 0 percent import duties under the Vietnam-EU FTA. Other examples are processed chocolate products (such as cocoa butter, cocoa cake or cocoa powder). For shipments to the EU, Indonesia competes with shipments from the African continent. While Indonesian exporters need to face import duties up to 9 percent, African counterparts are not disturbed by import duties, thus making the African products more competitive while the quality of the product is more-or-less the same. Rosan Roeslani, Chairman of Indonesia's Chamber of Commerce and Industry (Kadin), sees the same affect in the palm oil sector. Recently, shipments of Indonesian crude palm oil (CPO) to Turkey declined significantly because Turkish importers shifted to Malaysian CPO suppliers as they can enjoy lower import duties due to the FTA that was signed between Malaysia and Turkey in 2015. The Indonesian government does understand the importance of partnering in free trade deals and is therefore in negotiations for various deals including Indonesia-EU FTA, Indonesia-EFTA CEPA, Indonesia-Australia CEPA, Indonesia-Chile CEPA, Indonesia-India CECA, Indonesia-Iran PTA, and Indonesia-Turkey PTA. However, these negotiations - if successful at all - require plenty of time as the government is divided about the matter and concerned about the negative impact (a potential surge in imports). Source: Bisnis Indonesia |
Clarification on closed Mills in Indonesia - API INDONESIA
Many aware that there are Whatsapp forwards flooding in your inbox about Mills getting closed in Indonesia, most of the information found in whatsapp is not true. In view of the same, API - Indonesian textile association , released a note as below. Indonesian Textile Industry is very strong with efficient workforce availability , which is prime requirement for labor intensive textile industry. However , due to continued market fluctuation , Mills are unable to get sufficient margin to keep the modernization plan active. While , Indonesian government is trying to do their best, negative sentiment noticed across most textile mills. Which may be resulting many change in management of many factories, closure and reduced utilization. While there are some inaccuracies in API's notification , in general below clarification on closed mills can help you to get broad idea.! |
Cotton Properties
Yarn Numbering Systems
Have you heard of a yarn count? in specific have you thought what it means when you hear counts like Ne 30s , Ne 20s , Nm 30s ( list goes on...). To make it simple I will use a simple term.... Do you like to wear a thick piece of cloth as your inner wear? For sure , not.. you would prefer preferably thinner cloth. The difference between a thinner and thicker cloth is the yarn used to make the fabric. How to differentiate one yarn to other? Here the numbering systems of a yarn comes. Wide range of numbering systems followed worldwide. Most commonly used yarn numbering system is English Count ( Ne ) for regular short stable spinning, In case of worsted yarns or long stable spinning , Metric System ( Nm ) is widely used. What is that? How to differentiate between both? A definition of Yarn Count is given by the Textile Institute (UK) : Yarn Count is number indicating the weight per unit length or the length per unit weight of yarn.
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Face2face with www.fibre2fashion.com
18th June 2015 Balasubramanian P, CEO of PT Texcorp International talks about the current state of the Indonesian textile, fibre and feedstock industry; the majorchallenges faced by these industries; his solutions for overcoming these challenges; and his outlook for these industries in an interview with Fibre2Fashion.com What is the size of the textile manufacturing industry in Indonesia? Where does Indonesia stand in the man-made fibres industry? Please rate Indonesia in textile feedstock production on a scale of 1 to 10. What are the five main problems that plague the textiles industry in your country, and what steps are being taken to address those? 1. The steep hike in electricity costs has forced many factories to stop production during the peak-hour surcharge period. 2. Increasing labour costs especially in Jakarta or West Java area are forcing factories to shift operations to Central or East Java where wages are comparatively low. 3. Non-availability of locally-produced cotton fibre is forcing mills to import raw cotton, and to keep stock at their godown for a minimum period of 3-6 months. If cotton prices go down across the globe, then that results in direct losses for most factories. 4. Huge devaluation of the Indonesian rupiah created big problems for domestic industries as they had to import raw materials like cotton fibres and manufacturing machines in dollars. So, expansion or modernisation has become expensive now than a year ago. 5. Lack of infrastructure in cities of Java island is increasingly making it crowded; and in cities like Jakarta and Bandung, traffic jams have become a daily routine. Which are the countries that you export to mostly? Which new markets look promising? Source : www.fibre2fashion.com |
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