PT Bumi Resources will post its first annual profit in five years as a rally in fuel prices help Asia’s biggest exporter of thermal coal push through a debt restructuring. The company, controlled by the family of Indonesian politician Aburizal Bakrie, had net income of $101.6 million last year, compared with a net loss of $2 billion in 2015, according to provisional results e-mailed by Bumi on Wednesday.
Category: Jakarta, Indonesia
Southeast Asia’s Best Stock Seen Extending Rally on Cost Cut
PT Adaro Energy, Southeast Asia’s best-performing stock this year, is expected by analysts to extend gains in 2017 as it benefits from rising coal prices and cost-cutting initiatives. The coal miner’s measures to reduce expenses resulted in an earnings before interest, taxes, depreciation and amortization margin of 36.2 percent in the third quarter, the largest among Indonesia’s five biggest listed coal miners, and the highest quarterly reading in three years, according to data compiled by Bloomberg.