JAKARTA - At least 53 issuers are waiting in line for delisting from the share registration board at the Indonesian Stock Exchange (BEI). One of them, namely, PT Organon Pharma Indonesia Tbk (SCPI) has been in suspended status for the past 10 years.

Based on the data compiled by IDNFinancials, Wednesday (7/8), SCPI recorded the suspension date on February 1 2013, or has entered its 11th year this year. This suspension status is the longest among the 52 other listed issuers, for example, PT Polaris Investama Tbk (PLAS) on 28 December 2018 and PT Golden Plantation Tbk (GOLL) on 30 January 2019.

As of June 2024, the number of shares in this issuer is recorded at 3.6 million shares with Organon LLC ownership of 98.78% and the public 0%. The number of shareholders is 436 shareholders.

Even though it is in suspended status, this issuer's performance in the first semester of 2024 grew from the same period in 2023. Revenue was IDR 1.35 billion, up from IDR 1.23 billion and profit for the year was IDR 111.60 million, down from IDR 134.72 million .

The Indonesian Stock Exchange (BEI) assessed that before it became a delisting status, it was trying to save investors, for example, by encouraging the purchase of shares (buyback). "The thing to pay attention to is how to maintain investor protection, from the delisting process later, from the company side it is mandatory to carry out a buyback," he said. (LK/LM)