SINGAPORE (July 16): Shares of Indonesia coal miner BlackGold Natural Resources have slumped some 32% as at 3.20pm, after allegations of corruption by Indonesia’s anti-graft agency over the weekend.

The Corruption Eradication Commission (KPK) detained Indonesian lawmaker Eni Maulani Saragih, who is suspected of embezzlement in connection with the construction of BlackGold’s Riau-1 coal-fired power plant project.

Eni is alleged to have received a bribe from BlackGold shareholder Johanes Budisutrisno Kotjo to smoothen the signing of the contract. Johannes has also been named a suspect for his alleged role in the illicit transaction.

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