Sri Rejeki Isman (Sritex), one of Indonesia's leading textile and garment manufacturers, plans to acquire a German military uniform manufacturer. Iwan Kurniawan Lukminto, Vice President Director of Sritex, said the acquisition of the German company should be completed in 2017. The aim of this acquisition is to enhance Sritex' business in the European Union. The German uniform manufacturer will be the "extended arm" of Sritex in Europe according to Lukminto's words. Currently, about 15 percent of Sritex' total export revenue is generated from shipments to Europe.

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Per 14 November 2013, 24 Indonesian provinces have confirmed their new provincial minimum wage for the year 2014. As Indonesia numbers 34 provinces in total, 10 more provinces are expected to announce their new minimum wages soon. It is interesting to note that of the 24 provinces that have already published the new minimum wage, 11 provinces have set the minimum wage below the assumed need for decent living in the province, which implies that the minimum wage is not enough to finance a person's minimum monthly basic needs.

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Indonesia Investments has added the company profile of Sri Rejeki Isman, better known as Sritex, in the Indonesian Companies section. Sritex is a vertically integrated textile and garment producer in Indonesia. The company, Southeast Asia’s largest textile manufacturer, has four production units: spinning, weaving, dyeing and garment. Sritex manufactures yarn, greige, fabrics and apparel that are sold to textile producers and retailers in 55 countries across the globe.

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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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