Bourse extends trading suspension of six companies

The Indonesian Stock Exchange (IDX) has decided to extend the suspension of shares trading of six companies that failed to submit their first quarter financial reports on time.

The companies are PT Buana Listya Tama (BULL), PT Dayaindo Resources International (KARK), PT Mitra International Resources (MIRA), PT Panca Wiratama Sakti (PWSI), PT Katarina Utama (RINA) and PT Truba Alam Manunggal Engineering (TRUB).

“Based on our supervision, as of July 30, 2012 there are six listed companies that have not submitted their unaudited financial reports, the deadlines of which were March 31 2012, or [there are companies that have submitted their financial reports but] have not paid the fines for their late submission,” the bourse said in a statement released on its website on Thursday.

All of the companies have seen their shares trading suspended by the bourse since July 2, except coal miner PT Dayaindo Resources International, whose shares trading was suspended on July 31. The IDX also obliges each of the six aforementioned companies to pay Rp 150 million (US$15,824) in fines.

The announcement adds another blow to telecommunication equipment service provider PT Katarina Utama after the IDX announced last month that it may delist the company. The bourse deemed that the company had failed to demonstrate healthy business operations.

Katarina had yet to record any stock transactions since August 2010, one year after its IPO, according to stock exchange trading records. The IDX has suspended Katarina’s stocks, 26 percent of which are owned by the public, since September 2011. (sat/iwa)