[JAKARTA] Indonesia’s collapsed textile giant Sri Rejeki Isman (Sritex) is facing potential delisting from the Indonesia Stock Exchange (IDX) after the Attorney General’s Office (AGO) named a former executive as a suspect in a corruption case involving the alleged misuse of bank loan facilities.
IDX director I Gede Nyoman Yetna said on Thursday (May 22) that Sritex shares, which have been suspended from trading since 2021, now meet the criteria for delisting and reverting to private status. However, he did not specify when the delisting would take place, saying the exchange is currently coordinating with the Financial Services Authority and a curator on the process.
“Given that Sritex has been officially declared bankrupt,…
