How it started
History
The company was initially established as PT Bumi Modern in 1973 and engaged in the hospitality and tourism industry. It conducted its initial public offering in 1990 and shifted its business from hospitality and tourism to oil, natural gas, and mining in 1998. The company changed its name to PT Bumi Resources Tbk in 2000.
In 2013, the organisation was beset by a host of difficulties, including the discovery of US$201 million in financial irregularities, as well as regulatory problems.
From Wikipedia’s article on Bumi Resources, shared under CC BY-SA 4.0.2