September 27, 2002 9:52:18 AM
Jasabanda's Operating License is Frozen

Authority of Jakarta Stock Exchange (JSX) freeze the Bourse Member’s Letter of Agreement (SPAB) or the operating license of PT Jasabanda Garta for 30 days. The freeze is conducted because it‘s already 30 days since the payment failure in the stock transaction of PT Dharma Samudera Fishing Industry Tbk (DSFI) worth Rp65B. The company can’t fulfill the remaining of Rp16B liability to PT Kliring Penjaminan Efek Indonesia (KPEI).

The chairman of JSX’s Membership Division Hamdi Hassyarbaini, in Jakarta, Thursday (26/9), stated that the SPAB from Jasabanda had been frozen since September 23, 2002, after the bourse member previously suspended for 30 days from August 22- September 22.

Following Jasabanda, SPAB freezing will also conducted to PT Ficor Sekuritas and PT Usaha Bersama Securities (UBS) in the next couple of days if both of them couldn’t fulfill the payment failure liability.

Bourse regulation stated that if bourse members couldn’t settled the payment failure in 30 days, there will be a sanction for them. First, 30 days suspension. Then continued by freezing the SPAB for 30 days. If the payment failure is not settled yet, then the SPAB will be lifted.