Indonesia Highlights: 52 Officials in Indonesia’s Parliament Test Positive for Covid-19 | Indonesia Phases Out Collective Leaves for 2021 Year End Holidays | Indonesian Stock Exchange Halts Trade in G

Meanwhile, Indonesia's Covid-19 Task Force is considering a request to scrap long holidays such as Christmas and New Year's Day as well as Eid al-Fitr or Idul Fitri.

"Covid-19 cases often spike after long holidays, leading to higher mortality rates. Much of this is caused by the public's higher mobility," said Covid-19 Task force head for Behavioral Changes Sonny Harry B. Harmadi.

He warned his audience about India's mistakes in handling Covid-19, such as policies which tightly controlled coronavirus transmission, followed by an explosion of cases that occurred once regulations were relaxed.

Source:

https://go.kompas.com/read/2021/06/19/032508074/indonesia-phases-out-collective-leaves-for-2021-year-end-holidays?page=all#page2. 

Indonesian Stock Exchange Halts Trade in Garuda Indonesia Stocks

The Indonesian Stock Exchange or PT Bursa Efek Indonesia (BEI) has suspended trade in Indonesian flag carrier Garuda Indonesia’s shares, after the embattled airline “delayed payment of Rp. 7.2 trillion [$500 million] in bonds,” the BEI announced on Friday.

“[Garuda’s inability to pay the bonds] indicated problems with their business operations,” said BEI Head of Trading Operations Irvan Susandy and Head of Evaluation and Monitoring Unit Vera Florida.

“Therefore, the BEI decided to halt securities trading in Garuda Indonesia stocks, effective on June 18 until further notice.”

BEI further explained that Garuda Indonesia has deferred payment of bonds, which were due on June 3, to June 17, 2021, due to a 14 day grace period.

Prior to its suspension on Thursday, Garuda’s stocks were sold at Rp. 222 per share, while the transactions are worth Rp. 4.53 billion ($312,640.18) from the 20.29 million stocks that were bought and sold.

Garuda Indonesia’s is weighed down with nearly Rp. 70 trillion ($5 billion) debt from corruption and mismanagement. Another issues is the fallout from the Covid-19 pandemic, such as travel restrictions, as well as the decreasing number of passengers numbers and destinations.

Source:

https://go.kompas.com/read/2021/06/19/072935074/indonesian-stock-exchange-halts-trade-in-garuda-indonesia-stocks?page=all#page2.