London-listed Asia Resource Minerals’ announcement that the Bakrie
Group was short of funds for a planned buyback of coal miner Bumi
Resources, underscores the group’s financial difficulties, an analyst
said.
“Looking at the announcement, the main question from the market is, does the Bakrie Group have enough funding for the buyback?” said Reza Priyambada, head of research at Trust Securities in Jakarta.
“The next question is, how will they plug this shortfall?,” Reza said.
“Looking at the announcement, the main question from the market is, does the Bakrie Group have enough funding for the buyback?” said Reza Priyambada, head of research at Trust Securities in Jakarta.
“The next question is, how will they plug this shortfall?,” Reza said.
