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PLN to not pay dividends due to weakening rupiah
State-run electric company PT Perusahaan Listrik Negara (PLN) is not going to pay out dividends to the government as it suffered a huge net loss last year
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tate-run electric company PT Perusahaan Listrik Negara (PLN) is not going to pay out dividends to the government as it suffered a huge net loss last year.
"This is because of [rupiah against US dollar] rate changes," PLN president director Nur Pamudji said at the Economic Coordinating Ministry office in Jakarta on Friday as quoted by kompas.com.
Nur said that he had reported the dividend issue to the central government.
PLN suffered a Rp 29.4 trillion (US$2.52 billion) net loss last year due to the weak rupiah, thus increasing the firm's power purchasing price. (nfo)
