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)