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Indonesian coal giant Bumi lashes out at 'attack'

Published on Oct 2, 2012 9:52 PM
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Mr Dileep Srivastava (left) director and corporate secretary of Bumi Resources whispers to president director of Bumi Resources Ari S. Hudaya (right) during a public disclosure of the company's financial standing in Jakarta on Oct 2, 2012. Indonesia's largest coal miner Bumi Resources described itself as under attack after its parent company, founded by British billionaire Nathaniel Rothschild, ordered a probe into its finances. -- PHOTO: AFP

JAKARTA (AFP) - Indonesia's largest coal miner Bumi Resources described itself as under attack after its parent company, founded by British billionaire Nathaniel Rothschild, ordered a probe into its finances.

London-listed coal giant Bumi owns a 29 per cent stake in the Jakarta-based Bumi Resources.

Last week it ordered an investigation into "potential financial and other irregularities", including a US$637 million (S$782 million) write down of development funds and assets.

Bumi Resources had undergone a "motivated attack", said director Dileep Srivastava on Tuesday. "We don't know who is behind it and what the motivation is," he added.

 
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