JAKARTA (TheInsiderStories) – Indonesian conglomerate, who is also the chairman of MNC Group Hary Tanoesoedibjo, has submitted a request to the Indonesian Stock Exchange (IDX) to temporarily suspended PT Media Nusantara Citra Tbk (IDX:MNCN) shares trading in all markets starting from the session I on Thursday (12/14), due to suspicion of fraud in stocks transaction.

Earlier, in a written memo to investors today, Tanoesoedibjo said it had requested a temporary suspension of a one-day stock trading on Dec. 14, 2017. The suspension was requested because of alleged irregular transactions of PT Media Nusantara Citra Tbk shares through Nomura Sekuritas Indonesia brokerage firm.

He also explained that MNCN shares owned by PT Global Mediacom Tbk are placed in Citibank custodian on behalf of Nomine PB Nominees Ltd totaling at 254,168,663 shares.

“There has been allegations of embezzlement, where the shares are sold in the stock market from Dec. 7, 2017 to Dec. 13, 2017 through brokerage firm Nomura Sekuritas Indonesia,” he said.

Eko Siswanto, the Head of Trade Operations Division of IDX added in the same statement, IDX has asked stakeholders to pay attention to information disclosure submitted by PT Media Nusantara Citra Tbk in order to maintain fair, orderly and efficient Securities trading.

“The company will apply for the resumption of trading after the shares owned by PT Global Mediacom Tbk (BMTR) parent company have been officially blocked to avoid such suspicious transactions,” he said. (*)

Written by Elisa Valenta, Email: elisa.valenta@theinsiderstories.com