Bumi offshoot waiting on 231m-dollar repayment

published 2 July 2012

Bumi, the diversified mining group, says its 29.2 per cent-owned associate, Bumi Resources, will not get an early repayment of 231m dollars it holds with an investment manager.

The hope had been to get the money, from Recapital Asset Management, in the first half of Bumi's financial year, with August 27th pencilled in as the transaction date.

Now the management of Bumi Resources is described as being in "active dialogue" on exactly when it will get its money back.