VIVAnews - The Indonesia Stock Exchange (IDX) will notify PT Mobile-8 Telecom Tbk. (FREN)'s management to give an explanation on its financial condition related to the delayed obligations payment which have already reached deadline.
The stock exchange authority will temporarily suspend on Mobile-8 shares until the code division multiple access (CDMA) telecommunication operator pays its obligation coupons.
The Entry Director of IDX Eddy Sugito said that the payment for the obligation coupons should have already been given to the Indonesian Central Securities Depository (KSEI) which acts as the remittance agent since Friday, March 13.
"Now, IDX hasn't got any new information from the company about their capability to pay the obligation coupons," said Sugito at the IDX building on Monday, March 16.
IDX will inquire explanation to the company regarding to the delayed payment, more over on their financial problem. "If [Mobile-8] can't pay, the obligation will become default and suspension will still be in effect until the company pays," he explained.
He added that Mobile-8 previously had difficulties to pay global obligation. But, they had settled the obligation coupons in rupiah. It convinced IDX before finally they suspended Mobile-8.
IDX temporarily suspended Mobile-8 Telecom's stock trading in all markets since the first session of today's trade.
The Head for the Service Sector Entry Division of IDX Umi Kulsum and the Head for Stock Trade Division of IDX, Supandi, said in a written statement that the suspension is executed because until 2009 March 13, 5 p.m., the company has not yet submitted the payment for the eight obligation interest to KSEI as the remittance agent.
It is based on KSEI's letter No. KSEI-0488/DIR/0309 dated March 13 2009 on Delay Payment of the Mobile-8 Telecom I's eight obligation interest in 2007.
Before the suspension, Mobile-8 shares were traded at level Rp 50 per unit.
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Translated by: Ariyantri E. Tarman
Industri Laboratorium Makin Kinclong, Lab Indonesia 2024 Soroti Hal Ini
Pameran teknologi dan peralatan laboratorium terbesar di Asia Tenggara dan satu-satunya di Indonesia, Lab Indonesia 2024 kembali mempertemukan elit industri laboratorium.
