Textile giant PT Sri Rejeki Isman Tbk (SRIL or Sritex) is having a rather terrible year. The last lawsuit for Suspension of Debt Payment (PKPU) against its affiliated company was granted by the Commercial Court at the Semarang District Court. Five companies in the group, including the parent company, and one affiliated company are in a temporary PKPU period. Sritex announced that it would conduct a General Meeting of Shareholders (RUPS). One of its aims is to change the Company’s business activities.
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