Tag: THE JAKARTA POST
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PT Yupi Indo Jelly Gum Pursues IPO to Finance New Factory and Expansion
PT Yupi Indo Jelly Gum plans to raise Rp 2.13 trillion (US$136 million) through an IPO to fund a new plant in East Java and support expansion in international markets. Approximately 77% of the funds will be directed towards the construction of the new facility, with operations expected to start in 2026. PT Yupi Indo…
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Sritex Pursues Investors to Lease Assets and Rehire Laid-off Workers
PT Sri Rejeki Isman (Sritex) is in negotiations with potential investors to lease assets and potentially rehire laid-off employees. The company declared bankruptcy due to substantial debts and ceased operations on March 1. Curator Nurma Sadikin emphasized that discussions are ongoing, with a decision expected within weeks. The embattled textile company PT Sri Rejeki Isman,…
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Prabowo’s Danantara Sovereign Wealth Fund Faces Governance Challenges
President Prabowo Subianto has launched Danantara, Indonesia’s new sovereign wealth fund, with $20 billion in initial capital. Analysts express concerns about the fund’s governance structure potentially hindering investor trust. The fund aims to consolidate state-owned enterprises, with new leadership appointments and significant asset management goals. Legislative changes further define the fund’s operation but raise apprehensions…