Bumi Resources Denies Bankruptcy Rumors

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)