JSX to delist Manly

JSX to delist Manly

JAKARTA: The Jakarta Stock Exchange (JSX) announced on
Thursday that it would delist shares of troubled financial
service company PT Manly Unitama Finance on Sept. 26.

JSX said that the decision was taken due to the firm's
inability to sustain future operations as signaled by the
disclaimer in its 2002 audited financial report.

The bourse also said that Manly had no longer been able to
comply with regulations and standards, such as holding an annual
shareholders meeting, publishing the composition of its
shareholders and holding a public forum on its poor performance.

JSX will allow Manly to resume the trading of its shares on
Aug. 28, after being suspended since May 21, to give the
opportunity to investors to settle their affairs with the
company. -- JP