After facing various lawsuits for Suspension of Debt Payment (PKPU), with the threat of being delisted from the stock exchange since 2020, on October 2024, textile giant PT Sri Rejeki Isman Tbk (SRIL or Sritex) and its subsidiaries has been declared bankrupt, at last. The past four years have been apparently unbearable that even Sritex cannot escape from their responsibilities. But what happened next was really interesting. The company’s failure to manage its finances was somehow used as an excuse to blame the Government, which was then forced to “save” the company, but for those who followed the problem from the beginning, this demand should be the responsibility of the company’s management. Therefore, the latest news from the Attorney General’s Office (AGO) was predictable, there is an allegation of corruption among the problems. To subscribe please click here
