JAKARTA - PT Sri Rejeki Isman Tbk (SRIL) will place over 50% of its total assets and equity as a security to creditors in regard to the homologated decision of peace agreement ordered by the Commercial Court of Semarang, Central Java.

This plan is said to be further decided during the Extraordinary General Meeting of Shareholders on September 18, 2024.

In the information disclosure quoted Tuesday (13/8), SRIL is said to submit its company group’s payables of a maximum of IDR 13.27 trillion.

For the record, as of now, the company group reported deficiency in equity of IDR 14.68 trillion, or equal to USD 854.82 million, while its total assets clocked up to USD 648.98 million as of December 2023.

The guarantees will include fiducia guarantee over the company group’s inventories, fiducia guarantee accounts receivables, mortgage of the company group’s land and building, as well as fiducia guarantee over several machineries.

SRIL is known to have signed the security allotment agreement on July 5, 2024, in regard to the obligation payment set in peace agreement. The homologated decision of peace agreement ordered by Commercial Court of Semarang dated January 25, 2022, was further supported by Decree of Supreme Court dated May 19, 2022. (LK/ZH)