JAKARTA – The stock of PT Hotel Mandarine Regency Tbk (HOME) is delisted off Indonesia Stock Exchange (IDX) following its stock trading suspension that had spanned 24 months since February 3, 2020.
Quoting the information disclosure this Friday (4/2), the IDX regulation specified that delisting might take place if the issuer faced any events that negatively impacted its sustainability and failed to indicate any recoveries. Additionally, the suspension might also take effect if the stock trading of the said issuer only occurred in the negotiation market for the past 24 months.
After the stock trading suspension of HOME two years ago, the commissioners of the said company had submitted their resignations. They are Iskandar Ali, President Commissioner; Michael Winata, Commissioner; and Zainuddin Effendi, Independent Commissioner. However, the resignations have not been approved during the General Shareholders Meeting.
The suspension of HOME first happened due to the investigation over Benny Tjokrosaputra, the convicted in the users’ funds appropriation case of PT Asabri (Persero) and PT Jiwasraya (Persero). He is also recorded as one of HOME’s shareholders. (LK/ZH)