IDX suspends Perdana Karya Perkasa
Wednesday, October 3 2012 - 02:50 AM WIB
The Indonesia Stock Exchange (IDX) has temporarily suspended trading of shares in coal miner PT Perdana Karya Perkasa on October 3.
The IDX said that the move was made after the share price jumped by 141.57 percent to Rp 214 on October 2 from Rp 89 per share on September 10.
Perdana Karya has eight coal concessions in East Kalimantan with three mines in production stage and five are still in exploration stage. The three producing mines are Teluk Dalam in Samarinda, Bantuas in Kutai Kartanegara regency and Dondang mine.
Those that are still in exploration stage include Marangkayu in Kutai Kartanegara regency and Semoi in Penajam Paser Utara regency.
The company is targeting to produce around 1.6 million tons of coal this year. Last year the company?s coal output was around 900,000 tons.
The company has recently signed an agreement to acquire a 5,000 ha coal mine in Kutai Barat, East Kalimantan.
Editing by Reiner Simanjuntak