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Monday, February 28, 2011

Champion Pacific suspended again

BI/ bursa
28/2/2011
Irvin Avriano A.
Bisnis Indonesia

Champion Pacific suspended again

JAKARTA: PT Champion Pacific Indonesia Tbk shares trading suspended again today, despite their shares trading also had been suspended last week by Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia/BEI) for a day.

In today bourse authority information disclosure authority, Acting of Transaction Control Division Head IDX Irvan Susandy said IGAR coded shares suspension happened because the strengthening of 200.52% or a total of IDR387 since IDR193 on January 28th to IDR580 level on February 25th.

"IDX need to do a temporary suspension of Champion Pacific shares trading in the regular market and cash market began the first session until February 28th until the further announcement," he said in the announcement today.

Pacific Champion is a plastic manufacturer company with industrial center in Bekasi, commandeered by Antonius Muhartoyo. Previously, their company named PT Kageo Igar Jaya Tbk.

He also urge for related parties, including investors, always pay attention to the further disclosure of information submitted by the company.

Stock trading before the company was also suspended on February 22th and released in the next day, without warning in the form of classification as an unusual market activity (UMA).

At the suspension for the first time, IDX also take consideration of the level of the company stock price on January 28th, from IDR193 as much as IDR282 or by 146.11% to IDR475 on February 21th.

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