Three companies delisted from JSX<\/p>\n
JAKARTA (JP): The Jakarta Stock Exchange (JSX) delisted PT
\nProdenta Indonesia, PT Unitex and PT Pfizer Indonesia yesterday,
\nbecause they no longer have the minimum number of shareholders.<\/p>\n
Tb. Hasjim, a director of the JSX, said they had been warned
\nabout the possible delisting measure but that they took no steps
\nto correct the problem.<\/p>\n
The number of shareholders of Prodenta Indonesia, a producer
\nof consumer goods, is only 50, Unitex, a textile company, only 81
\nand Pfizer Indonesia, a pharmaceutical company, only 83.<\/p>\n
Last year, the JSX delisted Singer Indonesia, the local joint-
\nventure of the sewing giant.<\/p>\n
According to the JSX rules, a company can also be dropped from
\nthe market if its shares fall below the nominal value of Rp
\n1,000, it suffers a net loss for three consecutive years, it does
\nnot pay dividends for three straight years or its shares are not
\ntraded for six consecutive months.<\/p>\n
The fate of the investors, which own around 20 percent stakes
\nin Prodenta, 27 percent in Unitex and another 20 percent in
\nPfizer is not yet clear.<\/p>\n
Securities analysts called on the Capital Market Supervisory
\nAgency (Bapepam) to issue a special ruling so that those affected
\nby the delisting are protected.<\/p>\n
The agency promised to issue such a ruling on the request of
\nthe public investors affected by Singer's delisting last year.
\nBut the promise has yet to be fulfilled. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/three-companies-delisted-from-jsx-1447899208",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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