Bumi Resources Minerals (BRMS) Explores Quasi Reorganization to Address USD 760 mn Deficit

Resources Minerals (BRMS) Explores Quasi Reorganization to Address USD 760 mn Deficit
BRMS is evaluating a quasi-reorganization to eliminate its USD 760 mn (IDR 12.4 tn) deficit by 2024-end, aiming to accelerate surplus returns by 2028 and enable dividend distribution within five years. The accounting measure, regulated under Bapepam-LK rules, would restructure equity by offsetting losses with positive balances like share premiums. Approval from OJK and IDX is pending. (Katadata)

China May-25 Retail Sales Jumped 6.4% YoY
China's retail sales rose 6.4% YoY in May-25, (Apr-25: 5.1%), the fastest since Dec-23 and beating forecasts of 5%. The increase was driven by holiday spending and govt. support measures. Strong gains were seen in appliances (+53.0%), sports goods (+28.3%), office supplies (+30.5%), food (+14.6%), and alcohol (+11.2%), while car sales rose slightly (+1.1%) and petroleum sales fell (-7.0%). Retail sales grew 5.0% in Jan–May. (Trading Economics)