Putra Surya trading suspended

JAKARTA (JP): The Jakarta Stock Exchange (JSX) suspended on Friday the share trading of finance company PT Putra Surya Multidana (PSM) for alleged malfeasance committed by the company's former president.

"JSX has to suspend the company share trading because something substantial which may greatly affect the company's well-being has occurred," the JSX said in a statement made available to The Jakarta Post.

The company's former president, who is not an Indonesian national, was recently reported to the police for an alleged criminal act, the JSX said. The stock exchange operator did not disclose the name of the company's former president or the charge made against the executive.

"PSM did not submit any report to JSX on the potential loss the company could suffer following the wrongdoing of its former president against the company," JSX said.

Local police, in cooperation with international police, are currently seeking the missing former president abroad.

The JSX also said that it had lifted on Friday the trading suspension imposed on toll road operator PT Citra Marga Nusaphala, after the company proved it had not played a role in the US$70 million controversial loan provided by a Brunei firm. (udi)