JSX suspends Squibb trading

Wed, 11 Aug 1999, 00:00 WIB | Source: JP

JAKARTA (JP): The Jakarta Stock Exchange (JSX) on Tuesday
temporarily suspended the trading of PT Squibb Indonesia stocks.

The JSX said the suspension order was issued following the
failure of Squibb executives to attend a hearing with the
exchange's management.

Squibb management was invited on July 30 and Aug. 9 to explain
their plans to improve the company's performance, but none of the
company's executives showed up at the two scheduled meetings.

Squibb Indonesia is one of 85 companies on the exchange's
watch list for possible delisting due to poor financial
performance. These companies are required to explain to the JSX
their business survival program if they want to stay on the
exchange. (udi)

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