Bakrieland shares suspended

JAKARTA (JP): The Jakarta Stock Exchange suspended trading of property firm PT Bakrieland Development on Monday after the company failed to meet Friday's deadline to submit its 1998 financial statement.

JSX suspended trading of seven companies on Monday morning, but trading resumed for six of them in the afternoon session after they submitted their 1998 financial reports.

The companies were PT Bumi Modern, PT Indosteel, PT Lippo Life, PT Lippo Securities, PT Polysindo Eka Perkasa and PT Texmaco Perkasa Engineering.

JSX management gave a final warning to 13 listed companies in mid-June to file their 1998 financial reports by Friday or face suspension of trading.

Six companies submitted their financial reports on Friday, and six others on Monday morning. Bakrieland was along among the 13 in not submitting its statement by the end of Monday.(udi)