JSX suspends Texmaco firms

JSX suspends Texmaco firms

JAKARTA (JP): Stock trading of companies under the Texmaco
Group was suspended in the first session on Tuesday due to the
transfer of the group's Rp 14.9 trillion (US$2.1 billion) debt to
the Indonesian Bank Restructuring Agency (IBRA).

The Jakarta Stock Exchange (JSX) identified the affected
companies as PT Texmaco Jaya, PT Texmaco Perkasa Engineering, PT
Polysindo Eka Perkasa, PT Wahana Jaya Perkasa, PT Indosteel and
PT Super Mitory Utama.

JSX said it requested explanations from the companies about
the transfer of their debts to IBRA.

The group's debts were initially on the books of state Bank
Negara Indonesia, before being transferred to IBRA as part of the
government-sponsored bank restructuring program. (udi)