IDX Suspends MDIA and WIKA Shares, Here's Why

The Indonesia Stock Exchange (IDX) has temporarily suspended trading of PT Intermedia Capital Tbk (MDIA) shares and extended the suspension of PT Wijaya Karya (Persero) Tbk (WIKA) shares.

According to an IDX disclosure, the suspension of MDIA shares was triggered by a significant cumulative price increase. The move serves as a cooling down period to protect investors. The temporary trading halt for MDIA shares applies to both the regular and cash markets, effective 5 August 2026, to provide market participants adequate time to make informed investment decisions based on available information.

Meanwhile, the IDX has decided to continue the trading suspension of WIKA securities across all markets until further notice. This decision follows information submitted by the company and the Indonesian Central Securities Depository (KSEI). The bourse cited a letter from WIKA regarding the payment of bond principal, bond interest, and Sukuk Mudharabah profit sharing, as well as a letter from KSEI concerning the postponement of the 15th profit-sharing distribution for the Sustainable Sukuk Mudharabah III Wijaya Karya Phase I Year 2022 Series A, B, and C. A subsequent KSEI letter revised the postponement of the profit-sharing payment.

Based on this information, WIKA delayed the scheduled 3 August 2026 profit-sharing distribution for the sukuk. The IDX assessed that the delay in sukuk profit-sharing payments indicates a potential going concern issue for the company. Consequently, the bourse decided to maintain the suspension of all WIKA securities to protect investors and ensure orderly, fair, and efficient trading.