40 public firms penalized

40 public firms penalized

JAKARTA (JP): The Jakarta Stock Exchange said yesterday it
would require 40 companies listed on the exchange to pay a fine
of Rp 10 million (US$1,000) each for a delay in submitting their
audited 1997 financial reports.

The exchange management said in a statement yesterday that the
trading of the 40 companies's stocks would be temporarily
suspended if they failed to submit the 1997 financial reports and
pay the penalty by June 15.

The Jakarta Stock Exchange requires all publicly listed
companies to submit their audited annual financial reports three
months after year's end at the latest.

It said that 160 of the total 288 listed companies had also
not reported their financial statements for this year's first
quarter as of yesterday. (das)