JAKARTA (Yosefardi) – Coal producer PT Berau Coal Energy Tbk (BRAU) has temporarily halted its production for December 26, 2013 to December 31, 2013 period, as it has achieved the production target of 23 million tons of coal for this year.
BRAU reported net profit of US$2 million in third quarter of 2013, significantly better than US$19 million of net loss in the same period of 2012.
Sales revenue also grew 2.8% to US$362 million, but gross profit and operating profit dropped 20% and 10.7% respectively. Its assets totaled US$2.04 billion while liability amounted US$1.83 billion.
The company had recently informed market authorities that it will soon file a formal statement of claims against Rosan Roeslani, former CEO and shareholder, related to US$173 million funds due last week.