Ministry of Industry Outlines Steps to Save Sritex
Minister of Industry Agus Gumiwang Kartasasmita says his office has outlined several steps to save Sritex.
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Minister of Industry Agus Gumiwang Kartasasmita says his office has outlined several steps to save Sritex.
In addition to bearing a debt of Rp100 billion to the plaintiff, Sritex is recorded as having a debt of Rp12.8 trillion to 28 banks. Who are they?
Sritex will exert maximum efforts so the top court can annul or revoke the Semarang Commercial Court's decision.
Commissioner of textile company Sritex met with Industry Minister Agus Gumiwang to discuss the company's bankruptcy status.
Industry Minister Agus Gumiwang Kartasasmita said that the government will take immediate steps to protect the employees of textile company PT Sritex
API assesses that Sritex's bankruptcy is inseparable from the issue of the global economic slowdown, prompting Chinese products to flood the market.
Textile giant Sritex revealed that the company's significant drop in revenue was primarily caused by the influx of cheap textile products from China.
The export-grade textile company will offer 5.2 billion shares
to the public to expand operations.