LONDON (Indonesia Today) – Bumi Plc, a company controlled by a consortium of Bakrie Group and Borneo Lumbung Energi (BORN), closed substantially lower by 6.7% to 268.7 pence in London Stock Exchange Wednesday (Sep 5).
Bumi Plc was traded as low as 265 pence. Bumi Plc has lost 70% its value year-to-date. At 265 pence per share, Bumi Plc has market capitalization of 639 million pound sterling.
Bumi Plc owns 29% shares of PT Bumi Resources Tbk, the largest coal producer in Indonesia. The company also controls majority shares of PT Berau Coal Energy Tbk, which produces around 20 million tons of coal per annum.
Bumi Resources has lost 69% its value year-to-date, while Berau Coal down 51.8%. Borneo Lumbung also dropped 40.4% in the same period. Bumi Resources reported net loss of US$322 million in the first half of 2012. (Indonesia Today)