JAKARTA Oct 5 Indonesia's securities depository
agency has frozen Merrill Lynch Indonesia's stock trading
account, following a court order after a legal battle with an
investor, a stock exchange official said on Friday.
Uriep Budhi Prasetyo, a director at the stock exchange, said
the exchange had received a letter from the Jakarta high court
to suspend Merrill Lynch's account after a dispute between the
brokerage and an Indonesian investor.
"We are only following orders from the court," Prasetyo
said, without naming the nature of the dispute or the company.
Merrill Lynch, a unit of Bank of America Corp, was
not immediately available for comment.
The stock exchange and the depository agency will wait for a
court decision to reopen the account, Prasetyo added.
Investment banks and brokerages have ramped up operations in
Indonesia in recent years, aiming to take advantage of greater
investor interest and surging markets in southeast Asia's top
economy, which won an investment-grade credit rating late last