Indonesia Stock Exchange Seeks Details on Haji Isam-Linked Share Pledges

Companies linked to businessman Haji Isam pledged shares in Jhonlin Agro Raya and Pradiksi Gunatama to Bank Mandiri.

The shares serve as security for a credit facility obtained by an affiliate, according to company disclosures.

The exchange has asked both listed companies for explanations.

The companies said the pledges do not change control or reduce shareholders’ ownership.