JAKARTA – Commercial Court of Central Jakarta approved the plea of Suspension of Debt Payment Obligation (PKPU) over PT Pan Brothers Tbk (PBRX) submitted by PT Januardi Putera Logistik (JPL). Said decision is stated in Letter No.149/Pdt.Sus-PKPU/2024 dated June 11, 2024.

In the information disclosure quoted Friday (14/6), Commercial Court of Centra Jakarta also approved temporary PKPU status requests submitted by PT Eco Smart Garment Indonesia (ESGI) and PT Prima Sejati Sejahtera (PSS) that last 45 days. The court has also appointed curator and administrator registered in the Ministry of Law and Human Rights in PKPU process, or only the curator in bankruptcy status.

The first creditor meeting and the delivery date of billing submission is set to June 28 and July 3, 2023. For the matching and verification of receivables, as well as the discussion or voting for homologated agreement is scheduled on July 11 and 18, 2024.

For information, PBRX lost USD 71,314 compared to similar period in 2023, scoring profit of USD 614,466. The declining performance is in line with the revenue’s downtrend to USD 92.25 million from USD 110.04 million. Its equity was USD 333.60 million, relatively stable to USD 333.65 million. (LK/ZH)