The Indonesia Stock Exchange (IDX) revokes all short selling transaction in the stock market followed the drowned of the Jakarta Composite Index - Photo: Special

JAKARTA (TheInsiderStories) – Indonesian Stock Exchange (IDX) officially removed the shares of PT Sigmagold Inti Perkasa Tbk (IDX: TMPI) from the trading board, the official announced on Monday (11/11). Beside TMPI, there are eight other shares that might be delisted regarding on bourse’ regulation.

The gold miner’ share has been suspended for around two years, since July 3, 2017. The delisiting decision have been take cause IDX rated the company’ conditions might effect negatively in the future, both financially and legally. The authority said, during the suspension, the miner has not shown indication of adequate recovery.

In terms of performance, as of the end of 2018, TMPI recorded lost of Rp326.68 billion (US$, reversed from Dec 2017 which still had a profit of Rp1.38 billion. Revenues also fell to Rp35.39 billion in 2018 from Rp55.16 billion in 2017.

Beside TMPI, IDX has also extended the suspension of share trading from eight issuers which did not submit their financial report as of June 30, 2019 and had not yet paid a fine for the delay. These eight issuers also have the opportunity to be delisted from the stock market if they do not fulfill their obligations.

Some of the issuers has suspended for more than one year, while others has just suspended on this year. PT Evergreen Invesco Tbk (IDX: GREN), a textile producer, has been suspended for more than two years because it has not submitted the financial report and has not paid the fee late.

Then, PT Tiga Pilar Sejahtera Food Tbk (IDX: AISA), which has been suspended for 15 months. Also, PT Cakra Mineral Tbk (IDX: CKRA) has been suspended since June 5, 2018 or almost one and half year.

The other stocks has been suspended this year is PT Borneo Lumbung Energi & Metal Tak (IDX: BORN). The coal miner’ stock has been suspended since May 9, 2019.

Bakrie Group’ subsidiary, PT Bakrieland Development Tbk (IDX: ELTY) has not paid a late fee for submitting financial statements and has been suspended since July 1, 2019. In addition, PT Golden Plantation Tbk (IDX: GOLL) also has been suspended since Jan. 30, 2019.

Then, PT Sugih Energy Tbk (IDX: SUGI) share been suspended for since July 11, 2019. Lastly, PT Nipress Tbk (IDX: NIPS) has been suspended since July 1, 2019.

IDX has regulate delisting and re-listing of shares on the exchange. The bourse will delete the listed company shares if the issuer experiencing a significant negative, either financially or legally and cannot show an indication of adequate recovery.

It could also due to suspensions in the regular market and cash market so the shares have only been traded in the negotiating market for at least the last 24 months.

US$1: 14,000

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