Bumi Board Members Attend Tense Meeting

Reuters reported that the directors of Bumi plc, one of the largest coal exporters in the world, held a board meeting to discuss allegations of financial irregularities, weak coal prices and the company’s falling share price. Board members Nat Rothschild, Indra Bakrie and Samin Tan have fallen into dispute over the past year.

As quoted in the market news:

Most of the allegations of financial irregularity, expected to total more than $500 million, relate to Bumi Resources, the flagship Bakrie miner and Indonesia’s largest coal producer. Two of three investments at the center of the probe, though, have already been written down to zero by the London parent.

Click here to read the full Reuters report.