Saturday, March 06, 2010

Who owns Bumi Resources?

PT Bumi Resources (BUMI) Tbk is still the busiest "casino" on Indonesia Stock Exchange (IDX). Interestingly, according to the report filed by share registrar PT Ficomindo Buana, nobody owns over 5% shares in this company.
There are 51,861 shareholders in BUMI, consisted of 50,638 domestic investors and 1,223 foreign investors. Individual domestic investors (49,666) own a combined 25.34% shares, while 444 foreign individual investors only own 0.5%. Foreign institutions (792) control the majority of shares with 53.95%, while 715 domestic companies own 18.72%.
So, why BUMI is still "controlled" by Bakrie Group and its people? Through vehicles?

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