Putra Surya trading suspended

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)