After the Eid holiday, these 3 issuers are threatened with being kicked out by the IDX

Jakarta, CNBC Indonesia – The Idul Fitri holiday has just ended, but the Indonesia Stock Exchange (IDX) has issued warnings about the potential for delisting for three listed companies. This further adds to the long list of issuers that will be expelled from the stock exchange.

The three companies are PT Eureka Prima Jakarta Tbk (LCGP), PT Jakarta Kyoei Steel Works Tbk (JKSW), and PT Triwira Insanlestari Tbk (TRIL). The following are the details contained in the IDX announcement quoted Tuesday (10/5/2022).

1. PT Eureka Prima Jakarta Tbk (LCGP)
The suspension period for LCGP shares has reached 36 months on May 2, 2022. The majority of LCGP shares are owned by the public, reaching 87.2%, then Bank Mandiri Health Foundation at 7.07%, Bukit Asam DP at 5.55%, and Prima Sakti Generation by 0.18%.

2. PT Jakarta Kyoei Steel Works Tbk (JKSW)
JKSW’s suspension period has also reached 36 months on May 2, 2022. Thee Ning Khong, President Commissioner of the company is known to own 1.33% shares in the company. The community ownership is 39.44%, PT Matahari Diptanusa is 28.67%, and PT Devis Multi Sejahtera is 30.56%.

3. PT Triwira Insanlestari Tbk (TRIL)
The suspension period for TRIL shares has reached 36 months on May 2, 2022. Public shares in TRIL are 27.65%. The rest is owned by PT Arthabuana Karya Mandiri as much as 57.92% and PT Hengtraco Protecsindo as much as 14.43%.

“The Exchange asks interested parties to pay attention and observe all forms of information submitted by the Company,” explained IDX management.

As is known, in the Exchange regulation Number II concerning Delisting and Relisting of Shares on the Exchange, the Exchange may delete the shares of the Listed Company if:

a. Provision III.3.1.1, Experiencing a condition, or event, which significantly negatively affects the business continuity of the Listed Company, either financially or legally, or on the continuity of the Listed Company’s status as a Public Company, and the Listed Company cannot show indications of significant recovery adequate.

b. Provision III.3.1.2, Shares of the Listed Company resulting from suspension in the Regular Market and Cash Market, are only traded in the Negotiation Market for at least the last 24 (twenty four) months.

[Gambas:Video CNBC]