Jakarta, 8 November 2017
PT Bumi Resources Tbk (“BUMI”, or “the Company”) Indonesia’s largest coal miner is pleased to announce that we have received the Most Powerful Company 2017 for Coal Mining category by Warta Ekonomi’s Indonesia Most Powerful Companies Award (MPCA) 2017, held in Jakarta on Friday, 27 October 2017.
From left-right: Mr. Fadel Muhammad-Founder Warta Ekonomi Magazine, Mr. Achmad Reza Widjaja – VP Investor Relations and Chief Economist BUMI, Mr. Muhammad Ihsan, Editor-in Chief Warta Ekonomi Magazine.
BUMI has the highest Economic Value Added (EVA) with the value of 599,682 among other domestic coal companies. This award was received by Mr. Achmad Reza Widjaja – VP Investor Relations and Chief Economist. The winner is the best listed company in Indonesia Stock Exchange, according to Warta Ekonomi, and has performed well for the last three years and must have a good stock development. In addition to having high liquidity and large market capitalization, candidate companies also have good fundamentals and performance. These companies are estimated to represent 50% -70% of the total market capitalization value of all shares listed in IDX.
To establish eligible companies to be winners, Warta Ekonomi Research Team undertook several steps of analysis and used several methods. First method is Economic Value Added (EVA). EVA is an economic value-added measure generated by a company as a result of a management activity or strategy. The use of the EVA method aims to focus attention on the value creation of the enterprise and assess the company's financial performance fairly by measuring the weighted size of the initial capital structure.
Another method is the research team to assess the performance of the company's stock. Companies that contribute greatly to the economy must not only have good financial performance, but supported by strong stock performance. To that end, the research team calculates various ratios, such as Debt to Equity Ratio (DER), Earning per Share (EPS) , Price to Earning Ratio (PER), and Price to Book Value (PBV).
Award Most Powerful Company 2017 for PT BUMI Resources Tbk.
VP Investor Relations and Chief Economist of BUMI Mr. Achmad Reza Widjaja expressed his gratitude for award given. “This award should prove that BUMI is committed to its debt restructuring process, where in 2016 our net profit has increased and our stock performances have grown. Its gives us a spirit that BUMI will has a stronger position and turn into a good influencer for the Indonesian economic development,” said Reza, Friday (27 October).