LONDON (Indonesia Today) – PT Bumi plc announces on its website that Ari Hudaya, a Non-Executive Director of the Company, has on Monday (Sept 24) resigned from the Board of the Company with immediate effect.
Bumi Plc, biggest shareholder of giant coal miner PT Bumi Resources Tbk (BUMI), is now investigating potential financial irregularities.
Bumi Plc said an independent investigation has been commissioned to investigate the allegations on an urgent basis, and is to report to the Board. ??It ??also intends to contact relevant authorities in the UK and Indonesia, as appropriate, in respect of some of the allegations.
An area of focus of the investigation, Bumi Plc said, will be the development funds of PT Bumi Resources Tbk. ??The extensive development funds in PT Bumi Resources Tbk and the one development asset in PT Berau Coal Energy Tbk were marked down to zero in the accounts of Bumi plc as at 31 December 2011, except for one investment with a carrying value of $39 million in the consolidated financial statements. (Indonesia Today)