JSX does u-turn on Texmaco delisting<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
The Jakarta Stock Exchange (JSX) announced on Friday that
\ntextile producer PT Texmaco Jaya, a unit of the once-mighty
\nTexmaco Group, would not be delisted from the bourse after all.<\/p>\n
JSX president director Erry Firmansyah said the companies
\ncurrently in the process for delisting were engineering firm PT
\nTexmaco Perkasa Engineering and plastic producer PT Wahana Jaya
\nPerkasa.<\/p>\n
\"Texmaco Jaya will remain on the bourse, along with the
\ngroup's other listed unit PT Polysindo Eka Perkasa. It is Texmaco
\nPerkasa and Wahana Jaya that are likely to be delisted,\" said
\nErry.<\/p>\n
As previously reported in this paper, JSX listing director
\nHarry Wiguna said Texmaco Jaya was among the companies scheduled
\nfor delisting by the bourse next month as it was determined that
\nthe company was unable to sustain its operation.<\/p>\n
Meanwhile, in its report to the JSX on Friday, Texmaco Jaya
\nalso clarified that it was still in operation and was not
\nincluded for delisting, as confirmed by a meeting between the
\ncompany and the JSX management on Sept. 22.<\/p>\n
The group, which was founded by an Indonesian businessman of
\nIndian origin, Marimutu Sinivasan, became mired in debt following
\nthe Asian financial crisis of 1997, which prompted the government
\nto bail it out, leaving some of its companies near bankruptcy. --
\nJP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jsx-does-u-turn-on-texmaco-delisting-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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