Bumi plc, the Indonesian coal miner part-owned by financier Nat Rothschild, has launched an internal investigation into alleged financial irregularities , underscoring rising investor anger at the controversial investment company.
One of Bumi’s largest shareholders is the influential Bakrie family whose business practices have come under mounting scrutiny in recent months.
Ari Hudaya, a close associate of the Bakries, resigned from Bumi’s board hours after yesterday’s announcement and the company’s shares closed down 25 per cent at 147.6p, after falling 22 per cent on Friday. Its share price peaked at ￡14 in April 2011.
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