Erdhika fined for defiance

Sat, 27 Jan 1996

JAKARTA (JP): The Jakarta Stock Exchange (JSX) announced that it had fined PT Erdhika Mulyatama, a securities company, Rp 500,000 (US$217.4) for failure to heed JSX regulations.

JSX's president, Hasan Zein Mahmud, and its supervision director, Stanislaus Say, reported in a statement yesterday that Erdhika had failed to execute transactions it had committed to with PT Sucaco Cable for 100,000 shares at Rp 5,500 each.

"If Erdhika remains defiant, not conducting the transactions within five working days since Jan. 22, JSX will impose further sanctions on it in accordance with the prevailing regulations," the exchange said. (rid)

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