Indofarma shares still suspended

Indofarma shares still suspended

JAKARTA: The Jakarta Stock Exchange (JSX) will continue to
suspend trading of the shares of pharmaceutical company PT
Indofarma until Friday, pending a public explanation by the
management to clarify the alleged irregularities in its 2002
financial report.

JSX said that Indofarma should also explain why it missed the
April 30 deadline to submit its audited financial report.

Indofarma is scheduled to make a public announcement on Friday
at the JSX office.

Reports of the alleged irregularities prompted JSX to suspend
Indofarma's shares early on Tuesday.

Indofarma reported to a JSX a net loss of Rp 20 billion (US2.3
million) for the year 2002. The disclosure stunned analysts and
investors as the company had previously reported a net profit of
Rp 88.6 billion through the third quarter of 2002. -- JP