JAKARTA (Yosefardi) – Bumi Resources (BUMI), the largest coal producer in Indonesia, dropped as much as 5.21% to Rp455 this morning, the lowest level since early 2009.
Trading volume was thin, with only 13 million shares exchanged hands in the first hour of trading.
Subsidiary BUmi Resources Minerals (BRMS) also collapsed 8.21% to Rp179 with over 81 million shares exchanged hands, while Berau Coal Energy down 3.18%.
Borneo Lumbung Metal, partner of Bakrie Group at Bumi Plc, dropped substantially by 5.36%, also to its new low since IPO.
Other Bakrie-related shares also lost ground, led by Visi Media Asia (-7.3%) and Energi Mega Persada (-5.83%).