IDX Imposes Fines On Companies

Jakarta, Jan 11 (ANTARA) - The Indonesia Stock Exchange (IDX) has imposed fines ranging from Rp50 million to Rp150 million on four companies for delaying the submission of their financial reports for 2012. The President Director of IDX, Ito Warsito, said here on Friday that the penalty for each company is different. "The penalty is dependent on the severity of each company`s case," he said. He said there are several companies which claim there has been a delay in the consolidation of their financial reports with their subsidiaries` financial reports. "Financial reports should be submitted on time," he said. IDX said three companies have received three written warnings. The IDX has imposed a fine of Rp 150 million on each of the following companies: PT Davomas Abadi Tbk (Davo), PT Dayaindo Resources International Tbk (KARK) and PT Buana Listya Tama Tbk (BULL). PT Berlian Laju Tanker Tbk (BLTA) has received two written warnings. The IDX has imposed a fine of Rp50 million on the company for not submitting a financial report that has been audited. Besides the four companies, the IDX has given written warnings to PT Energi Mega Tbk (ENRG) and PT Citra Kebun Raya Agri (CKRA). These companies have not submitted financial reports, which have been audited by a public accountant. According to Ito, these companies have to submit financial reports before the given deadline. Companies that carry out limited reviews will have to submit their reports within two months, and companies that perform audits have to submit their reports within three months.