Shares of Bumi Resources (BUMI), the largest coal producer in Indonesia, slipped to Rp108 Wednesday (Jul 31). At this price, BUMI has a market capitalization of Rp7 trillion only, below its equity (Rp8.26 trillion). Indika Energy (INDY), parent of Kideco Jaya Agung—third-largest producer, also declined to Rp1485 to make a market capitalization of Rp7.74 trillion. INDY has fallen 60% from its peak last year, most likely because of falling thermal coal price.To subscribe please click here
