JAKARTA (Yosefardi) – The Indonesia Stock Exchange (IDX) on Wednesday (July 22) halted trading in shares of plantation company PT Multi Agro Gemilang Plantation Tbk (MAGP) due to the debt default issue.
MAGP has sent letter to IDX explaining that it is invited by the Central Jakarta Courts for questioning about the postponement of debt settlement obligation (PKPU) case filed by CV Graha Mandiri.
As of March 2015, MAGP’s liability reached Rp323 billion while assets was Rp1.24 trillion. The company booked net profit of Rp3.45 billion in the first quarter of 2015 on sales of Rp24.67 billion.