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)