10 Indonesian Issuers That Once Thrived Now Face Ruin: From BATA to SRIL

A number of issuers once familiar in the daily lives of Indonesians are now in vastly different phases. Names such as Bata, Ramayana, Hero, Matahari, Hypermart, Express Taxi, and Sritex were once symbols of glory in their respective industries. However, changes in consumption patterns, pressure on purchasing power, digital competition, debt, and shifts in business models mean some of them are no longer as formidable as in the past. Some are still surviving with profits, others continue to suffer losses, and some have already entered the phases of bankruptcy and liquidation.