By Edhi Pranasidhi 
 

JAKARTA--Coal company PT Bumi Resources (BUMI.JK) said Wednesday that it is in contact with Indonesian regulators concerning the plan by key shareholder Bumi PLC to investigate allegations of financial and other irregularities at its Indonesian operations.

"We are in contact with capital market regulator Bapepam-LK and the Indonesia Stock Exchange in relation to this matter and will be complying with all of our obligations under Indonesian law," Bumi Resources Director Dileep Srivastava said. London-listed Bumi PLC owns a 29% stake in Bumi Resources.

He said that the nation's largest thermal coal exporter aims to resolve the matter as soon as possible and will make further announcements in due course.

Bumi Resources' first statement after Bumi PLC's announcement on Monday also followed that from Moody's Investor Service which Tuesday lowered its outlook on Bumi Resources to negative from stable, citing corporate governance concerns at Indonesia's largest coal producer.

Write to Edhi Pranasidhi at edhi.pranasidhi@dowjones.com

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