Three broking houses to reusme trading
Three broking houses to reusme trading
JAKARTA (JP): The management of the Jakarta Stock Exchange
(JSX) allowed yesterday three of four suspended brokerage houses
to resume trading.
The exchange's management said the three brokerage houses --
PT Finan Corpindo Nusa, PT Artha Gitasejahtera Sekuritas, PT Bumi
Artha Securindo -- had settled their problems.
The three brokerage houses had delivered all Bank Pikko shares
to the Indonesian Securities Central Depository (KDEI), the
exchange said.
The exchange said PT Mentari Securindo, the fourth brokerage
company that was suspended Wednesday for failing to deliver Bank
Pikko shares within nine trading days, was still prohibited from
trading.
A JSX official said Mentari had, in fact, settled all the Bank
Pikko shares but the suspension could not be lifted due "another
case".
According to the JSX, Finan Corpindo had delivered 105,000
Bank Pikko shares, Artha Gitasejahtera 72,500 shares, Bumi Artha
Securindo 2,500 shares and Mentari 2,500 shares to KDEI.
The Capital Market Supervisory Agency (Bapepam), said
yesterday that the investigation of over 100 brokerage houses
involved in the trading of Bank Pikko shares early this month had
not been completed.
"The investigation is still underway and we have not reached a
conclusion yet," said Herwidayatmo, head of corporate finance of
the agency's I Bureau.
Bapepam earlier promised it would announce the result of its
investigation today.
The price of Bank Pikko shares surged over 200 percent to Rp
4,000 in three hours before being suspended. Bapepam said the
unrealistic increase was caused by market cornering, causing many
people who sold short to suffer big financial losses.
Herwid said the parties to be investigated might bring
something to light and there was a possibility of questioning
those who had been questioned earlier.
Early this week, the agency questioned three directors of JSX,
president Cyril Noerhadi, supervision director Edwin Stamboel and
trading director Mas Ahmad Daniri.
He refused to mention the time frame for the investigation.
"Let the investigation team work on it," he said, adding that
the results would be released to the press.
He said the team consisted of officials from the agency and
some lawyers.
"Experts are needed in order to get the best investigation
result," he said. (09)