Friday, January 23, 2009

Antam and Elnusa have potential derivative losses

PT Aneka Tambang Tbk and PT Elnusa Tbk book derivative transaction losses, one of which on foreign currency exchange rate hedging transactions against fluctuation.

My source told me that about the derivative transactions confided Elnusa was potential to lose IDR200 billion, while Antam's loss had yet been identified.

Since August 22, 2008, the rupiah exchange rate has been depreciated by 20% following huge cash withdrawal by US and European investors. Such an exchange rate fluctuation had inflicted losses on corporations relying on US dollar as a means of transaction.

No comments: