BUMI Posts US$387.9mn Net Loss

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  • BUMI Resources

    BUMI Resources

    TEMPO.CO, Jakarta – Bakrie Group's coal-mining subsidiary PT Bumi Resources (BUMI) posted a net loss of US$387.9 million in 2014. Despite the loss, 2014's ledger was better compared to 2013's, with the company recording a US$609 million net loss.

    President director Saptari Hoedaja said the loss was in line with the miner's 21 percent revenue decline to US$2.78 billion. The revenue decline was fueled by a drop in coal exports value by 37 percent to US$1.8 billion.

    Bumi Resources yesterday released its 2014 financial statement. The late report had caused Indonesia Stock Exchange (IDX) authorities to suspend the company from trading its stock.

    Along with Bumi, the IDX also suspended five other issuers from trading: PT Benakat Integra Tbk (BIPI), PT Borneo Lumbung Energi & Metal Tbk (BORN), PT Berau Coal Energy Tbk (BRAU), PT Permata Prima Sakti Tbk (TKGA) and PT Inovisi Infracom Tbk (INVS).