September 17, 2025 | 02:02 pm
TEMPO.CO, Jakarta - The Central Jakarta Commercial Court has officially declared bankruptcy against PT Sejahtera Bintang Abadi Textile Tbk (SBAT), Indonesian textile company based in Cicalengka, Majalaya, and Cikancung, West Java, Bandung.
The ruling came after the completion of the Suspension of Debt Payment Obligation (PKPU) process under case number 3/Pdt.Sus-PKPU/2025/PN Niaga Jkt.Pst.
SBAT’s controller, Tan Heng Lok, confirmed that the company had already halted operations in July 2024. In an information disclosure to the Indonesia Stock Exchange (IDX) on Wednesday, September 17, 2025, he said the bankruptcy ruling had no further impact on operations or the company’s viability, as activities had stopped months earlier.
The bankruptcy of SBAT follows the downfall of another major textile issuer, PT Sri Rejeki Isman Tbk. (Sritex), which shut down its factory after being declared bankrupt in March 2025.
In its decision, the court named Joko Dwi Atmoko as the supervising judge. It also appointed Asri, Syafrullah Alamsyah, and Irwandi Husni as bankruptcy curators. According to Tan, the remuneration for the curators will be determined once they have carried out their duties.
Legal Troubles Since 2024
SBAT’s financial troubles trace back to late 2024, when two companies and one individual filed separate PKPU lawsuits against the firm at the Central Jakarta Commercial Court. The plaintiffs were:
PT Hengsheng Plastic International (Case No. 326/Pdt.Sus-PKPU/2024/PN Niaga Jkt.Pst)
Lukman Dalton (Case No. 327/Pdt.Sus-PKPU/2024/PN Niaga Jkt.Pst)
PT Putratama Satya Bhakti (Case No. 328/Pdt.Sus-PKPU/2024/PN Niaga Jkt.Pst)
The state-owned enterprise PT Industri Telekomunikasi Indonesia (INTI) controls a 13.996 percent stake in SBAT, equivalent to 665,250,000 shares. PT INTI itself operates in the telecommunications equipment manufacturing sector.
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