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Jakarta Post

Two more companies to be kicked out of IDX this year

  • Riska Rahman

    The Jakarta Post

PREMIUM
Jakarta   /   Wed, June 26, 2019   /  01:03 pm
The Jakarta Post Image
The trading floor of the Indonesia Stock Exchange. (kompas.com/File)

  The Indonesia Stock Exchange (IDX) will likely kick two companies that failed to show good performance out of the bourse this year amid the stock exchange’s intensive campaign for more companies to go public. Coal miners PT Borneo Lumbung Energi & Metal (BORN) and PT Bara Jaya International (ATPK) may have their stocks delisted for failing to demonstrate a healthy business operation. “Both companies have also been suspended for almost 24 months so we’re considering delisting them,” IDX assessment director I Gede Nyoman Yetna told the press last week. Coal miner Borneo Lumbung Energi, known to produce hard coking premium coal, was owned by businessman Samin Tan who was named a suspect early this year by the Corruption Eradication Commission (KPK) for allegedly bribing then-House of Representatives member Eni Maulani Saragih. The bribe was ...