Latest business news media headlines platform today https://heaptalk.com Latest business news media headlines platform today | Lets talk Business Tue, 18 Mar 2025 07:54:11 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 https://heaptalk.com/wp-content/uploads/2025/04/cropped-fav-icon-48x48-1-32x32.png Latest business news media headlines platform today https://heaptalk.com 32 32 Sritex Gains Investor, Laid-Off Staff to Return to Jobs https://heaptalk.com/news/sritex-gains-investor-laid-off-staff-to-return-to-jobs/ Tue, 18 Mar 2025 07:54:11 +0000 https://heaptalk.com/?p=46872 Heaptalk, Jakarta — Manpower Minister Yassierli announced that PT Sri Rejeki Isman (Sritex) has secured a new investor. However, the Minister remained tight-lipped about the identity of the new investor. What is certain is that the investor will operate Sritex’s existing machinery. “As a result, 5,000 laid-off employees will be able to return to work. Today, it has […]

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]]> Govt asks Sritex not to cease operations https://heaptalk.com/govact/govt-asks-sritex-not-to-cease-operations/ Fri, 17 Jan 2025 09:58:11 +0000 https://heaptalk.com/?p=45731 Heaptalk, Jakarta — Coordinating Minister for Economic Affairs Airlangga Hartarto has confirmed that Sritex has not ceased operations. The government has even asked the curators and banks to discuss this issue with the company. “Yes, of course, we appreciate the law, but the government is asking that the company continue to operate without any cessation […]

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]]> Indonesia Supreme Court Ruling Confirms Sritex Bankruptcy https://heaptalk.com/news/indonesia-supreme-court-ruling-confirms-sritex-bankruptcy/ Fri, 20 Dec 2024 07:42:41 +0000 https://heaptalk.com/?p=45136 Heaptalk, Jakarta — The Supreme Court (MA) of Indonesia has officially declared the bankruptcy status of PT Sri Rejeki Isman Tbk (Sritex) as final and binding following the rejection of the textile company’s cassation appeal. The decision was delivered by Supreme Court Justice Hamdi a few days ago. For context, Sritex filed the cassation appeal with its three […]

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]]> Industry Ministry to battle illegal textile smuggling, ceasing Sritex bankruptcy https://heaptalk.com/govact/industry-ministry-to-battle-illegal-textile-smuggling-ceasing-sritex-bankruptcy/ Mon, 18 Nov 2024 09:44:05 +0000 https://heaptalk.com/?p=44315 Heaptalk, Jakarta — Indonesian Minister of Industry Agus Gumiwang Kartasasmita has voiced concerns over the collapse of Sritex, a major domestic textile company, and several other industry players. The Minister attributed the downfall to the rampant smuggling of illegal textile products into Indonesia. Additionally, he noted that the influx of cheap, legally imported goods has exacerbated […]

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]]> Sritex suspends 2,500 of its employees due to the shortage of raw materials https://heaptalk.com/industry/sritex-suspends-2500-of-its-employees-due-to-the-shortage-of-raw-materials/ Tue, 12 Nov 2024 05:23:06 +0000 https://heaptalk.com/?p=44143 Heaptalk, Jakarta — After being declared bankrupt, PT Sri Rejeki Isman Tbk (SRIL) or Sritex announced that it has suspended operations for 2,500 employees working in the spinning, weaving, and finishing divisions due to the shortage in raw materials. Sritex President Director Iwan Kurniawan Lukminto explained on Sunday (11/10) that since the bankruptcy decision, the […]

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]]> House of Representatives forms working committee to save Sritex https://heaptalk.com/govact/house-of-representatives-forms-working-committee-to-save-sritex/ Tue, 12 Nov 2024 05:22:47 +0000 https://heaptalk.com/?p=44112 Heaptalk, Jakarta — Commission VII of the Indonesian House of Representatives (DPR RI) will establish a working committee to address Sritex’s bankruptcy issues. Sritex is a textile company based in Sukoharjo, Central Java. Saleh Partaonan Daulay, the Chairman of Commission VII, during his visit to Sritex in Sukoharjo, Central Java, on Thursday, stated that the […]

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]]> Despite its bankruptcy, Sritex still allowed to do export-import activities https://heaptalk.com/industry/despite-its-bankruptcy-sritex-still-allowed-to-do-export-import-activities/ Thu, 07 Nov 2024 10:49:05 +0000 https://heaptalk.com/?p=44053 Heaptalk, Jakarta — Coordinating Minister for Economic Affairs Airlangga Hartarto stated in Jakarta on Wednesday (11/6) that although PT Sri Rejeki Isman Tbk (Sritex) is bankrupt, the government is still granting the company unrestricted freedom to conduct export-import activities indefinitely. According to him, export-import activities are one measure the government has implemented to help Sritex […]

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]]> Following Sritex case, Minister of Industry discusses Trade Minister Regulation 8/2024 with Minister of Trade https://heaptalk.com/govact/following-sritex-case-minister-of-industry-discusses-trade-minister-regulation-8-2024-with-minister-of-trade/ Wed, 06 Nov 2024 06:55:15 +0000 https://heaptalk.com/?p=43761 Heaptalk, Jakarta — The Spokesperson for the Ministry of Industry, Febri Hendri Antoni Arif, in Jakarta, on Monday (11/04), stated that the Minister of Industry, Agus Gumiwang Kartasasmita, has met with the Ministry of Trade and the Directorate General of Customs and Excise to discuss the Minister of Trade Regulation (Permendag) Number 8 of 2024 […]

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]]> Sritex suspects Trade Minister Regulation 8/2024 will destroy the textile business https://heaptalk.com/industry/sritex-suspects-trade-minister-regulation-8-2024-will-destroy-the-textile-business/ Tue, 29 Oct 2024 10:22:37 +0000 https://heaptalk.com/?p=43558 Heaptalk, Jakarta — PT Sri Rejeki Isman (Sritex) Commissioner Iwan Setiawan viewed Trade Minister Regulation (Permendag) No. 8 of 2024 on import policies and regulations as disrupting the operations of the domestic textile industry. Since its enactment on May 17, 2024, Indonesia has seen an influx of textile imports. “Permendag No. 8 is indeed visibly disrupting […]

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