JSX suspends securities firms

JAKARTA (JP): The Jakarta Stock Exchange (JSX) said it had suspended the license of three of its members last week, as they failed to meet minimum working capital requirements.

The JSX's membership director Umar T. Laksana said PT Dharmala Securities, PT Arya Shinta Sekuritas, and PT Indofinancia Pratama had been suspended.

"We have suspended their membership at the Jakarta Stock Exchange," Umar told reporters in a press meeting.

He said the JSX required each member to show a reserved working capital of at least Rp 5 billion (about US$530,000).

The three securities firms were among eleven firms that JSX had threatened with suspension due to insufficient reserves.

Umar said that the other eight firms had sought additional funds from existing shareholders and new investors.(bkm)