27 firms face delisting from JSX<\/p>\n
JAKARTA (JP): Twenty-seven companies which received a
\ndisclaimer from auditors in their 1998 financial reports will be
\ndelisted from the Jakarta Stock Exchange (JSX) if their 1999
\nreports show no improvement.<\/p>\n
\"If these companies receive disclaimers again in their
\nDecember 1999 audited financial statement, they will
\nautomatically be delisted,\" said the Jakarta Stock Exchange in a
\nstatement on Tuesday.<\/p>\n
The companies include salt producer PT Fiskaragung Perkasa,
\nwhich is in a liquidation process.<\/p>\n
The move, according to JSX, was strictly to preserve a healthy
\ninvestment climate at JSX.<\/p>\n
\"Public companies with disclaimers are considered to have
\nfailed to provide the public with a fair basis for making their
\ninvestment decisions,\" JSX said.<\/p>\n
The companies which received auditors' disclaimers include PT
\nBank Duta, PT Bank Rama, PT Dharmala Sakti Sejahtera, PT Lippo
\nPacific, PT Jakarta Kyoi Steel Works Limited, PT BDNI Capital, PT
\nInti Indorayon Utama and PT Mandiri Intifinance.<\/p>\n
Most listed companies will have their audited December 1999
\nfinancial statement completed and released to the public some
\ntime in late March.<\/p>\n
Public accountants give disclaimers when the company it audits
\nshows no concern or faces uncertainties in the continuation of
\nits business, which, among other things, is due to a poor
\nfinancial performance or a threat of being declared
\nbankrupt.(udi)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/27-firms-face-delisting-from-jsx-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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