Textile Issuer SBAT to Be Delisted Due to Bankruptcy: List of Investors Holding Over 1 Percent

The Indonesia Stock Exchange (BEI) will remove the listing of shares or delist PT Sejahtera Bintang Abadi Textile Tbk (SBAT) following its declaration of bankruptcy on 29 August 2025 by the Central Jakarta District Court. Shares of the textile issuer from Bandung, West Java, are scheduled for effective delisting on 10 November 2026. The delisting policy refers to Exchange Regulation Number I-N. Under this provision, the exchange is authorised to remove the listing of shares of a listed company that experiences conditions or significant events with a negative impact on business continuity, both financially and legally, and shows no indication of adequate recovery. The decision to remove SBAT from the exchange is considered to impact shareholders, particularly retail investors. Based on BEI data, SBAT went public on the capital market on 8 April 2020 with an initial public offering price of Rp105 per share, with a total of 45 billion shares outstanding. However, in terms of ownership, SBAT shares remain concentrated among major shareholders. Tan Heng Lok is the largest shareholder with a portion of 34.48 percent or equivalent to 1.64 billion shares. In the next position is PT Industri Telekomunikasi Indonesia, which holds 14 percent of the shares. Meanwhile, ownership below that is relatively dispersed, with individual and institutional investors each holding portions in the range of 1-2 percent. Some of them include Antonio Andrew Imanuel at 1.98 percent, Aghni Dhamayanti at 1.89 percent, and Herman Halim at 1.6 percent. SBAT is a textile company established on 17 July 2003 and began its commercial business activities in the same year. The company is headquartered in the Majalaya textile industrial area, specifically at Jalan Raya Cicalengka Majalaya KM 5, Desa Sri Rahayu, Kecamatan Cikancung, Kabupaten Bandung, West Java. Based on the company’s Articles of Association, the scope of SBAT’s activities includes the export-import and trade of textiles, as well as activities in the textile industry sector. In its operations, the company’s main business focus is on industrial activities, particularly textile production, including the processing of recycled yarn.