Concern mounted on Thursday over the future of coal miner Bumi Resources as a viable investment after the one-time jewel of Indonesia’s capital market announced a third opaque purchase in four days that appeared linked to its dominant shareholder, the powerful Bakrie family.

Bumi’s share price fell by the daily limit of 10 per cent for the third consecutive day to Rp700 as analysts advised against holding the stock at its current value. Some predicted Bumi, which as recently as June was the biggest company on the Indonesian Stock Exchange by market value, would only recover if transparency levels rise significantly.