JAKARTA – PT PP Properti Tbk (PPRO), a property developer, remains suspended by the Indonesia Stock Exchange (IDX) following the ongoing debt restructuring process under Suspension of Debt Payment Obligations (PKPU) for its creditors.

"The IDX has decided to extend the suspension of PT PP Properti Tbk shares in all markets starting from the fourth session of Full Call Auction on January 14, 2025, until further notice," according to an official IDX statement on Tuesday (14/1).

PP Properti explained that the suspension follows the payment delay of the 11th coupon of its Sustainable Bond II Phase IV Year 2022 Series B, amounting to IDR 4.33 billion, to bondholders.

The bond has a principal value of IDR 163.5 billion and an annual interest rate of 10.60%, maturing on January 14, 2025.

"The exchange urges all relevant parties to pay close attention to the company’s information disclosure," said Lidia M. Panjaitan, Head of Company Valuation Division 3, and Pande Made Kusuma Ari A, Head of Regulation and Trading Operations Division at IDX, in a disclosure released on Wednesday (15/1). (DK/ZH)