Bakrieland shares suspended

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)