JAKARTA (Yosefardi) – Coking coal producer PT Borneo Lumbung Energi & Metal (BORN) Tbk booked net loss of US$157 million in nine months ended September 30, 2013, expanded from US$111 million in the first half of the year.
Borneo Lumbung, controlled by Samin Tan, reported sales revenue of US$264 million in nine months of 2013, slashed by 48% from the corresponding period of 2012.
While in the first half the company booked gross profit of US$2 million, in nine months of 2013 it posted gross loss of US$12 million.
Operating loss also expanded from US$36 million in the first half to US$57 million in nine months of 2013.
The company’s equity as a result collapsed 48% to US$183 million, while liabilities down only 11% to US$1.52 billion.