Jakarta - PT Bayan Resources Tbk (BYAN) Group claims that it lost revenue of around US$260 million in January 2022 due to the ban on coal exports from January 1-31, 2022.

"The company and its subsidiaries were unable to fulfill their obligation to deliver coal in accordance with the contract. The company and its subsidiaries experienced a loss of revenue in January 2022 of approximately US$260 million," said BYAN President Director Dato DR Low Tuck Kwong in the company information disclosure submitted to the IDX in Jakarta on Tuesday (18/1).

He explained that the company and business entities must negotiate with customers to reschedule the shipment of coal that cannot be delivered.

Meanwhile, BYAN's business entities are PT Bara Tabang, PT Fajar Sakti Prima, PT Firman Ketauan Perkasa, PT Teguh Sinarabadi, and PT Wahana Baratama Mining.

The company and its business entities have issued a notification of force majeure to their coal