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IDX suspends the trading of BRMS shares

02 April 2019 15:44

JAKARTA. The Indonesia Stock Exchange (IDX) stopped trading of the shares of PT Bumi Resources Minerals Tbk (BRMS) because the issuer did not record any operating revenues in the last three months of 2018.

"Taking these conditions into account, the IDX decided to temporarily suspend the trading of PT Bumi Resources Minerals Tbk (BRMS) securities in all markets since the first session of trading on Tuesday (2/4) until further announcements," said Adi Pratomo Aryanto, Head of Company Appraisal Division 1, and Mulyana, Acting Head of IDX's Trade Management and Operations Division in the announcement, Tuesday (2/4).

IDX asks interested parties to always pay attention to the information disclosure delivered by BRMS.

Based on the BRMS financial statements that submitted to the IDX on 26 March 2019, the company which engages in mining exploration and development of mineral resources recorded net revenue of US$ 1.18 million in 2018. This total net income is equal to the amount of net revenue reported in BRMS' financial statements as of the end of September 2018.

This means that in the last three months of 2018, the Bakrie Group issuer did not record any revenue.

In the first nine months of 2017, BRMS recorded revenues of US$ 5 million, equal to its revenues at the end of 2017 of US$ 5 million.

At the end of 2018, the BRMS recorded a net loss of US$ 103.50 million. This loss was lower than its loss in the previous year which reached US$ 232.99 million. (AM/AR)

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