PT Pan Brothers Tbk (PBRX) is another textile company in financial problems. The pandemic has taken a toll on the Company’s performance. The situation deteriorated when one of the executives of the Company was examined as a witness in a corruption case involving State-owned insurance company PT Asuransi Jiwasraya (Persero). In the last week of May 2021, PT Maybank Indonesia Tbk (BNII), filed a lawsuit on Suspension of Debt Payment (PKPU) against Pan Brothers.
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