The Indonesia Stock Exchange temporarily suspended trading in shares of PT Sri Rejeki Isman Tbk (SRIL) or Sritex starting the session I on Tuesday (18/05) in all markets.

The IDX suspended SRIL shares because it did not fulfill its obligation to pay coupons and principal of medium-term notes (MTN).

The IDX referred it to the follow-up letter of PT Sri Rejeki Isman No. 008 / CoS / V / 2021 / SRIL on May 11, 2021, regarding the request for MTN Sritex phase III funds in 2018 and the ineffective principal and interest of MTN Sritex phase III 2018 6th in the account Indonesian Central Securities Depository (KSEI) according to a predetermined time.

"We convey that payment of principal and interest to MTN holders through Account Holders which should have been carried out on May 18 2021 has been postponed," wrote the attachment to KSEI's letter, Tuesday (18/05).

Sritex sold MTN Sritex Phase III 2018 of US$25 million, which PT Bahana TCW