JSX plans relief for troubled firms<\/p>\n
JAKARTA (JP): The management of the Jakarta Stock Exchange
\n(JSX) plans to give some 100 firms on the verge of being delisted
\nfrom the bourse two additional years to complete their
\nrestructuring programs.<\/p>\n
In return, these companies must submit monthly progress
\nreports to the stock exchange and the public, JSX president Mas
\nAchmad Daniri said.<\/p>\n
The extension is contingent upon progress being made in the
\nrestructuring programs, he said.<\/p>\n
If there is no progress in their corporate plans, then the
\ncompanies will be delisted, Daniri said.<\/p>\n
He was outlining a number of proposals aimed at strengthening
\ntransparency in the capital market. The plan has yet to be
\napproved by the Capital Market Supervisory Agency.<\/p>\n
Another proposal is to divide listed companies into three
\ntrading boards based on their track records and business
\nprospects.<\/p>\n
\"This way investors could better identify the risks in the
\ncapital market,\" Daniri said.<\/p>\n
The main board would consist of companies with proven track
\nrecords. The second, the development board, would comprise
\ncompanies showing good prospects despite drops in performance.
\nThe third, the special board, would be for companies whose share
\nprices had dropped below prescribed levels.<\/p>\n
If the plan is approved, the JSX's Composite Price Index would
\nbe based on the prices of shares on the two upper boards, rather
\nthan on all listed companies, he said. (03)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jsx-plans-relief-for-troubled-firms-1447893297",
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"sponsor": "Okusi Associates",
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