Surya trading suspended

JAKARTA (JP): The management of the Jakarta Stock Exchange (JSX) has decided to indefinitely suspend trading in Bank Surya stock until its shareholders or the government decide on its status.

JSX management said in a statement Wednesday that Bank Surya met all criteria for suspension, however, the bank had not yet been delisted.

While Surya shares are still being traded the company remains obliged to meet all transparency and reporting requirements.

Bank Surya is one of seven private banks whose operations were suspended by the Indonesian Bank Restructuring Agency (IBRA) on April 4. Surya is the only publicly-listed bank which has been suspended.

IBRA, a government institution set up in January to overhaul the country's banking industry, has also taken over the management of six listed private banks and one state bank. (rid)