JAKARTA. The Indonesia Stock Exchange (IDX) suspended trading in several issuers' shares starting this morning, since they have not held public expose and they have not paid the fines for previous violations.
The suspension was made official through a letter signed by the Head of Company Evaluation Division I of the IDX, Adi Pratomo Aryanto, Head of Company Evaluation Division 2 Vera Florida, and Head of Company Evaluation Division 3 Goklas Tambunan
The letter states that listed companies must carry out public expose at least once a year. This rule is written in Conditions V.1 of Exchange Regulation No. 1-E. Because issuers do not comply with these rules, issuers are obliged to pay fines no later than 15 days after the sanction is imposed. However, the suspended issuers did not heed sanctions from the exchange.
The issuers were suspended starting from the first trading session today (21/2). The seven issuers are PT Kertas Basuki Rachmat Indonesia Tbk (KBRI), PT Marga Abhinaya Abadi Tbk (MABA), PT Akbar Indo Makmur Stimec Tbk (AIMS), PT Cakra Mineral Tbk (CKRA), PT Evergreen Invesco Tbk (GREN), PT Nipress Tbk (NIPS and PT Triwira Intanlestari Tbk (TRIL). (AM/AR)