25 firms face delisting

JAKARTA (JP): At least 25 companies listed on the Jakarta Stock Exchange face being delisted due to their worsening financial performance.

The JSX management said yesterday that the 25 companies were PT Alumindo Perkasa, PT Aneka Kimia Raya, PT Bank Umum Nasional, PT Bukaka Teknik Utama, PT Central Proteina Prima, PT Dharmala Agrifood, PT Surya Hidup Satwa and PT Fajar Surya Wisesa, PT Anwar Sierad, PT Argo Pantes, PT Concord Benefit Enterprises, PT Ometraco Corporation, PT Inter Delta, PT Miwon Indonesia, PT Modern Bank, PT Perdana Ini Investama, PT Sierad Produce, PT Steady Safe, PT Aster Dharmala, PT Darya-Varia Labotaria, PT Dharmindo Adiduta, PT Intinusa Selareksa, PT Putra Surya, Multidana, PT Putra Surya Perkasa, PT Trypolita Indonesia.

The stock market operator said the 25 companies no longer qualified for listing due to their poor financial performance. Executives of the companies are therefore required to discuss the threat of delisting with the JSX management within the next 10 days.

According to the JSX, the net losses of the 25 companies have swelled to more than 50 percent of their paid-up capital. Almost a half of them have total equities of less than the minimum requirement of Rp 3 billion. (hen)