More firms threatened with delisting

More firms threatened with delisting

JAKARTA (JP): The Jakarta Stock Exchange (JSX) over the
weekend put another 36 listed companies on the watch list for
possible delisting, the second batch after that consisting of 49
companies announced in late June.

Companies on the watch list are those with unsound equity or
doubtful business prospects as declared by their respective
public accountants, JSX said in a statement referring to its
existing listing regulation.

Listed companies that have been operating at a loss for the
last three years, that have a net equity of less than Rp 3
billion, a net equity in deficit of over 50 percent of paid-up
capital or have received a "qualified comment" from a public
accountant are put on the watch list as a warning, according to
the JSX listing regulation.

The 36 companies, within 10 days of receiving the warnings,
are required to propose a schedule to hold a company hearing with
JSX officials to present plans to improve their financial
performance, according to JSX.

The company hearings of the previous 49 companies are
continuing until mid August, with 12 of them to date being given
between six months and one year by JSX to improve their
performance.

The 49 companies in the first batch include state Bank Negara
Indonesia, Bank Bali, Bank Tiara Asia, Bank Danamon, Bank PDFCI,
Lippo Pacific, Bakrie & Brothers, Astra International, Indomobil
Sukses Internasional and United Tractors. (udi)

Companies on the watch list: Alter Abadi, Asia Intiselera,
Bakrie Finance Corp., BII, Bank Lippo, Bank Niaga, Bank Palapa,
Bank Rama, Bank Tamara, Bank Unibank, Bank Universal, Bayu Buana,
BDNI Capital Corp., Bhuwanatala Indah P., Citra Marga Nushapala,
Dankos Laboratories, Dharmala Sakti S., Duta Anggada Realty,
Enseval Putra M., GT Kabel Indonesia, Hanson Industri U.,
Indonesia Prima P., Indosteel, Kalbe Farma, Keramika Indonesia,
Lippo Karawaci, Lippo Land Development, Lippo Life, Lippo Securities
Mas Murni Indonesia, Pakuwon Jati, Polysindo Eka Perkasa, PP London
Sumatera, Putra Sejahtera P. (CFC), Semen Cibinong, Sinar Mas
Multiartha