PLN loss widens as currency weakens

PT Perusahaan Listrik Negara,Indonesia state utility, more than doubled its net loss to
13.1 trillion rupiah ($1.1 billion) last year as the country currency weakened against the U.S. dollar.
The company had a foreign exchange loss of about 10 trillion rupiah last year.
Lower fuel costs after crude prices fell more than $100 a barrel from a July record of $147.27 a barrel failed to offset higher foreign exchange expenses and depreciation costs. The rupiah has weakened 26 percent in the past year as investors repatriated capital from emerging markets amid the global credit crisis. PLN posted a loss of 5.6 trillion rupiah in 2007.