The Shares Of Sritex, The Textile Company Owned By The Conglomerate Iwan Lukminto, Are Being 'parked' By The Stock Exchange, Why?

JAKARTA - The Indonesia Stock Exchange (IDX) temporarily suspended trading in shares or suspended PT Sri Rejeki Isman Tbk (Sritex). The trading suspension of the issuer coded as SRIL began in the first trading session, Tuesday, May 18.

Quoted from the IDX information disclosure page, the suspension was carried out in relation to the postponement of the principal and interest payment of the 6th Phase III 2018 Sritex medium term note (MTN) (USD-SRIL01X3MF).

"In order to maintain an orderly, fair and efficient securities trading, the Indonesia Stock Exchange has decided to temporarily suspend the trading of shares of PT Sri Rejeki Isman Tbk," wrote the temporary suspension of trading.

The letter has not yet explained how long the suspension will be. IDX also asks interested parties to always pay attention to the disclosure of information conveyed by the company owned by the conglomerate Iwan Lukminto.

SRIL's shares ended at Rp146 per share when the suspension was carried out. In trading on Monday, May 17 yesterday, SRIL shares fell 6 points or 3.95 percent to the position of Rp146.

For information, Sritex is also in debt problems by several companies. On Thursday May 6, the panel of judges at the Semarang District Court (PN) also declared Sritex in the status of postponing debt payment obligations (PKPU).

The PKPU lawsuit was filed by CV Prima Karya to Sritex on April 19, 2021. The case number is 12 / Pdt.Sus-PKPU / 2021 / PN Niaga Smg.

In its petitum, CV Prima Karya asked the Semarang District Court judges to assign PKPU to the respondent (Sritex and its subsidiaries) for a maximum period of 45 days from the lawsuit. They also asked the panel of judges to charge all court costs to Sritex and its subsidiaries.