State miner Aneka Tambang (ANTM) suffered a loss of Rp281.8 billion in the first quarter (Q1) of 2020, against a profit of Rp176 billion in Q1 last year, due to a jump in finance cost. Its sales declined 16% to Rp5.2 trillion from previous Rp6.2 trillion, and operating profit dropped 51.5% to Rp137.5 billion from earlier Rp283.4 billion. Finance cost reached Rp1.19 trillion, compared to Rp17 billion only in Q1 of 2019, of which Rp1.06 trillion was a loss on foreign exchange from short-term bank loans and investment loans.

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