This Stock to be Delisted from Exchange, Sinar Mas Holds 1.14%

The Indonesia Stock Exchange (BEI) has announced a list of 18 issuers that will be delisted this year. One of them is Tianrong Chemicals Industry (TDPM). According to the disclosure of information, TDPM will be removed from securities listing or delisted due to bankruptcy. TDPM shares have been suspended since 27 April 2021 due to delays in settling the principal payment of MTN II. Based on the Monthly Report on Securities Holder Registration as of 31 December 2023, DH Corporation Ltd is recorded as the ultimate beneficial owner with 72.51% ownership or 7,602,265,670 shares. The remaining 27.49% is held by shareholders with ownership below 5%. In the 1% ownership data, several parties hold TDPM shares. One of them is PT Sinar Mas Multiartha Tbk (SMMA). This company, part of the Sinar Mas Group, is recorded as holding 119,127,550 TDPM shares or 1.14%. In accordance with Exchange Regulation No. I-N, BEI urges TDPM and the other 17 issuers to carry out buybacks. The deadline for submitting buyback disclosure of information and the start of buyback execution by the company is 10 May 2026. The buyback execution period is 11 May to 9 November 2026. Subsequently, TDPM will be effectively delisted starting 10 November 2026. TDPM was officially declared bankrupt after a lawsuit to annul the peace agreement by PT Bata Merah Wisesa was accepted by the court on 10 March 2025. “At the time this Disclosure of Information is issued, and based on the decision of the Commercial Court at the Central Jakarta District Court in the hearing for the annulment of the peace with Case Number 4/Pdt.SusPembatalan Perdamaian/2025/PN.Niaga.jkt.pst on 10 March 2025, the company is currently declared bankrupt,” quoting the company’s statement in the disclosure of information.