Jakarta (Antara Bali) - Indonesia's largest coal producer PT Bumi Resources Tbk strongly denied reports that it was on the brink of bankruptcy.
"It is a rumor and unfounded," Dileep Srivastava, a director of the publicly traded company, said here on Thursday.
What is recorded by the company in its financial report is a potential loss and would cause no harm to the company's financial condition, Srivastava said.
He said he is optimistic Bumi Resources would perform well and achieve its targets.
"Bumi is on track to produce 100 million tons of coal in 2014. There has been no default on debt repayment," he said.
Meanwhile, PT Indosurya's analyst Reza Priyambada confirmed Bumi's net loss was a potential loss, adding, it is not yet a reality.(IGT/T007)
COPYRIGHT © ANTARA News Bali 2012
"It is a rumor and unfounded," Dileep Srivastava, a director of the publicly traded company, said here on Thursday.
What is recorded by the company in its financial report is a potential loss and would cause no harm to the company's financial condition, Srivastava said.
He said he is optimistic Bumi Resources would perform well and achieve its targets.
"Bumi is on track to produce 100 million tons of coal in 2014. There has been no default on debt repayment," he said.
Meanwhile, PT Indosurya's analyst Reza Priyambada confirmed Bumi's net loss was a potential loss, adding, it is not yet a reality.(IGT/T007)
Editor : Nyoman Budhiana
COPYRIGHT © ANTARA News Bali 2012