Reuters: Bankruptcy News: STOCKS NEWS INDONESIA-Exchange halts trading of Surabaya Agung on bankruptcy filing

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STOCKS NEWS INDONESIA-Exchange halts trading of Surabaya Agung on bankruptcy filing Apr 18th 2013, 04:05 Thu Apr 18, 2013 12:05am EDT The Indonesian Stock Exchange suspended trading in PT Surabaya Agung Industri Pulp dan Kertas Tbk as requested by the paper producer's curator team due to its bankruptcy process, the exchange said in a statement on Thursday. Surabaya Agung was sued by Singapore-based Asiabase Resources Pte Ltd for payable worth up to $415,036, company had said in an exchange filing dated March 5. The pulp maker's shares hit their lowest since May 2011 at 160 rupiah per share on Monday, before closing at 200 rupiah. They have lost almost half of their value since last year. The broader Jakarta's Composite Index is trading down 0.19 percent.

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