Glencore & Sinarmas hold 8.5% stake in Bumi

Wandrik Panca Adiguna | 10 Desember 2010 07:19 WIB

JAKARTA: Global commodity trading company Glencore International AG and PT Sinarmas Sekuritas are reported to hold nearly 8.5% stake in Indonesia's largest thermal coal exporter PT Bumi Resources Tbk (BUMI).

In an official shareholders' structure submitted to Indonesia Stock Exchange (IDX) today, Raiffeisen ZentralBank Oesterr holds 3.66% own Bumi via non-preemptive rights.Credit Suisse International and Credit Suisse Singapore Branch hold 3.26% and 2.25% stakes respectively in Bumi.Bumi posted a 37.02% drop in net income to US$195.61 million for the first 9 months ended September 2010 from US$310.59 million a year earlier as higher interest expenses and finance charges.In an unaudited financial statement submitted to Indonesia Stock Exchange (IDX) today, the company's interest expenses and finance charges steeply rose 459.05% to US$448.97 million from US$80.31 million. In return, net other charges widened 181.57% to US$121.78 million from US$43.25 million.However, at the operational line, Bumi still made a positive growths. Operating income advanced 10.61% to US$779.09 million from US$704.33 million. But, operating margin slightly fell to 24.54% from 26.57% on the back of higher cost of goods sold by 22.69%. Revenue increased 19.62% to US$3.17 billion from US$2.65 billion. (wiw)

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