Fri, 25 Feb 2000

JSX suspends three stocks

JAKARTA (JP): The Jakarta Stock Exchange suspended trading in stocks in PT Davomas Abadi, PT Anwar Sierad and PT Alakasa Industrindo on Thursday over their legal battles in the bankruptcy court.

JSX said in a statement that trading on the three stocks would resume once each of the three companies gave satisfactory explanations to the exchange.

According to JSX, Davomas Abadi was facing a bankruptcy suit from American Express Bank Ltd., while Anwar Sierad was confronting a bankruptcy claim from Elevation Group Ltd.

Meanwhile, BNP Lippo plans to file a bankruptcy suit against Alakasa Industrindo. (rid)