Textile giant Sri Rejeki Isman (SRIL) or Sritex, helped by PT AJCapital Advisory, has drafted an initial proposal for a composition plan relating to the Suspension of Debt Payment (PKPU). It handed over said the proposal to creditors on Tuesday (Sept. 7). SRIL will then propose extending the PKPU before Sept. 21, 2021, to its bondholders. The Company had noted that the impact of the COVID-19 pandemic and the implementation of public or social activity restriction (PPKM) affected the delay in the debt restructuring process.

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