<article>Garment manufacturer Sri Rejeki Isman says it has acquired two industry competitors, while HR and accounting platform Sleekr announced that it has agreed to team up with XL Axiata.</article>

Garment manufacturer Sri Rejeki Isman says it has acquired two industry competitors, while HR and accounting platform Sleekr announced that it has agreed to team up with XL Axiata.
<h3>Garment maker Sri Rejeki Isman acquires two textile companies</h3>
Garment manufacturer Sri Rejeki Isman (SRIL) announced in a disclosure to the IDX that it has acquired two textile companies for a total consideration of $84.99 million.
The investment, which will be done by SRIL along with an affiliate company, Sinar Pantja Djaja (SPD), will see the two companies acquire the shares of local companies Primayudha Mandirijaya and Bintratex Industries.
SRIL said the acquisitions will be done in two stages. The first stage will involve the transaction of a total of $69.69 million, while the second will see the completion of the remaining investment of $15.3 million.
The fund for the acquisition was raised through private placement and issuance of medium-term notes (MTN). The takeover, SRIL said, will boost sales for the company and also expand its export market.
<h3>XL Axiata partners with Sleekr to target SMEs</h3>
Telco firm <a href="https://www.dealstreetasia.com/?s=xl+axiata">XL Axiata</a> has teamed up with HR and accounting platform <a href="http://Sleekr">Sleekr</a> to provide a digital solution to small and medium enterprises in the country, the latter has announced.
In an official statement, Sleekr said that the collaboration, which will be in the form of a program called SME Business Solution Service, will offer customers an affordable postpaid package and a free access to the Sleekr application to customers with a bill of Rp 1 million a month.
“It is hoped that the digital solution that we are offering will increase business productivity comprehensively, particularly in terms of human resource management and financial systems,” said Bambang Parikesit, XL Axiata’s regional VP for Greater Jakarta.
Sleekr, whose service has been used by numerous companies, including Indonesian unicorn Tokopedia, raised an undisclosed funding from Japanese fintech firm Money Forward last month.
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Garment manufacturer Sri Rejeki Isman (SRIL) announced that it has acquired two textile companies for a total consideration of $84.99 million.

Indonesia Dealbook: Sri Rejeki Isman buys two firms, XL Axiata partners with Sleekr

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Indonesia Dealbook: Sri Rejeki Isman buys two firms, XL Axiata partners with Sleekr

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