IDX suspends MDLN's securities
JAKARTA - The Indonesia Stock Exchange (IDX) temporarily suspended the shares and bonds of PT Modernland Realty Tbk (MDLN) starting from the second trading session today (30/9).
The announcement regarding the suspension was made through a disclosure signed by Vera Florida, Head of Corporate Valuation Division 2 and Irvan Susandy, Head of Trade Operations Division of IDX.
In the disclosure, it was mentioned that MDLN's subsidiary, JGC Ventures Pte Ltd did not make payments for its 2021 Guaranteed Senior Notes. "This indicates that there is doubt over the continuity of the company's business," said Florida and Susandy in the report.
Because of that, IDX decided to suspend MDLN's securities in all markets until further notice. (LK/AR)