PT PP (Persero) Tbk Faces Bankruptcy Lawsuit from Steel Companies
Jakarta, Indonesia – Construction firm PT PP (Persero) tbk is facing a bankruptcy lawsuit filed by two iron and steel companies, PT Stahlindo Jaya Perkasa and PT Sinar Baja Prima, at the Central Jakarta District Court. The case, registered under number 50/pdt.Sus-Pailit/2025/PN Niaga JKT.Pst, was officially filed on September 3, 2025.
According to court records, the plaintiffs are seeking a declaration of bankruptcy against PT PP. The initial trial is scheduled for September 15, 2025.
PT PP’s Director of Finance, Agus Purbianto, stated the company had not yet received official notification of the lawsuit as of Monday, september 8, 2025. “Until this letter was made,the company has not received official notification from the court,” he said in a disclosure to the Indonesia Stock Exchange.
Purbianto added that PT PP will provide further data once it receives the official court documents and will ”verify first before giving an official response in the appropriate legal forum.” He also assured that, at this time, the company anticipates no legal, operational, or business continuity impact from the lawsuit.
This news comes despite a strong first quarter for PT PP in 2025, during which the company secured Rp 6.275 trillion in new contracts – a 32 percent increase year-over-year. These contracts were largely driven by state-owned enterprises (BUMN), accounting for 52.1 percent of the new business,followed by the private sector (28.6 percent) and the government (19.3 percent). Key project acquisitions included the New Priok east Access (NPEA) Section II project (Rp 2.33 trillion) and the Mandiri Financial Center PIK project (Rp 878.3 billion). The port sector represented the largest portion of new contracts at 37.2 percent, followed by buildings (32.9 percent) and roads & bridges (22.6 percent).
