BRAU claims to recover this year
Monday, July 1 2013 - 02:16 AM WIB
By Tri Subhki Rakgmatullah
PT Berau Coal Energy Tbk (BRAU), an IDX-listed coal producer, is expected to be able to recover this year, after a US$ 179.5 million of net loss in 2012, PT Berau President Director Eko Santoso Budianto said.
"We are doing all available measures to pave the way for recovery process. The worst had already passed," he said on Saturday.
Based on an audited report, PT Berau had a US$ 179.5 million of net loss by reclassifying unclear expenditures in the financial statement for fiscal year 2012.
The company's first five months performance in 2013 by producing 5.3 million tons of coal - a 27% increase compared to the same period in 2012 - supports the optimism.
Editing by Reiner Simanjuntak