TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Lautan Luas expects trade war can boost exports to US

United States industries are looking for raw materials from new countries because of the high tariffs imposed on Chinese goods.  

Made Anthony Iswara (The Jakarta Post)
Premium
JAKARTA
Sun, May 19, 2019

Share This Article

Change Size

Lautan Luas expects trade war can boost exports to US An employee works at a chemical plant. (Antara/Muhammad Iqbal)

A

publicly listed chemical company, PT Lautan Luas Tbk. (LTLS), says it hopes it would be able to take advantage of the escalation of a trade war between the United States and China to boost its exports, especially to the US.

The increase of import tariffs imposed by the US on Chinese goods would encourage American companies to source raw materials from other countries. This would offer an opportunity for Lautan Luas  and other similar companies from other emerging countries to boost their exports.

 "With the higher import tariffs on Chinese goods, the United States will look for another sources of goods from other countries, one of which is Southeast Asia and specifically Indonesia,” the company’s operational director, Herman Santoso, said on Thursday following the company’s annual shareholder meeting.

In the meeting, the shareholders agreed to allocate 30 percent of last year’s net profits for dividends.

Lautan Luas, a major integrated chemical company, has 17 manufacturing facilities, which include 14 factories  in Indonesia, two in China and one other in Vietnam.

The high tariffs imposed by the US had dealt a major blow to the company’s operations in China, as they make its chemical products too expensive for US industries, he said. Only about 20 percent of the company’s production is exported.

Herman Santoso said that the company’s revenues were projected to increase by about 10 percent to about Rp 8 trillion (US$559.44 million) this year.

to Read Full Story

  • Unlimited access to our web and app content
  • e-Post daily digital newspaper
  • No advertisements, no interruptions
  • Privileged access to our events and programs
  • Subscription to our newsletters
or

Purchase access to this article for

We accept

TJP - Visa
TJP - Mastercard
TJP - GoPay

Redirecting you to payment page

Pay per article

Lautan Luas expects trade war can boost exports to US

Rp 29,000 / article

1
Create your free account
By proceeding, you consent to the revised Terms of Use, and Privacy Policy.
Already have an account?

2
  • Palmerat Barat No. 142-143
  • Central Jakarta
  • DKI Jakarta
  • Indonesia
  • 10270
  • +6283816779933
2
Total Rp 29,000
{

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.