Bumi shares suspended on rumors

Bumi shares suspended on rumors

JAKARTA: The Jakarta Stock Exchange (JSX) and the Surabaya
Stock Exchange (SSX) suspended on Tuesday the trading of shares
in mining company PT Bumi Resources on suspicion over share price
fluctuations.

JSX and SSX said in a statement that they had to suspend
trading because there was news that the company was planning to
carry out a corporate action deemed substantial enough to
influence its share price, but had not informed the public of
this.

However, in a statement Bumi finance director Eddie J. Soebari
denied the accusation, saying the company had no plans at present
to engage in any substantial action.

He also said that the recent fluctuation in Bumi shares was
beyond the company's knowledge.

Before being suspended in early trading, Bumi shares stood at
Rp 285 per share, unchanged from Monday's trading.

Bumi recently made headlines in local media after acquiring PT
Kaltim Prima Coal (KPC), a major coal firm in East Kalimantan. --
JP