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