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Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
 Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agenda to be included in its upcoming Extraordinary Meeting of Shareholders which is now due to be held on June 24, 2010.
"We submitted the agenda yesterday to the regulators. Essentially, this is the first step in a series of debt cutting moves to take place over the next 12 months, as we have earlier announced to the market and the public at large," says Dileep Srivastava, BUMI Senior Vice President of Investor Relations. As per regulation, the non-preemptive issue allows the company to issue new shares to a maximum of 10 percent of the total outstanding shares of the company with price at an average of previous 25-day trading closing price before the announcement date.
“We categorically reject the continuing wild media speculation of an impending rights issue by the company. We have never had any such plan nor is there an intent to do so” added Dileep, “We draw attention again to our media release dated 27 Jan 2010 cautioning our investment fraternity not to heed the wild speculation and rumors about our company but are encouraged to contact the company direct for facts”.
The non-preemptive issue was earlier announced in December 2009 last year, but was later postponed due to the prevailing market environment. This has now been revived in view of an improved environment and investor interest. "This deleveraging move will strengthen the company's fundamentals and serve to increase shareholders’ value, BUMI’s strategic intent is to reduce debt by around USD1 billion in the next 12 months”.
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Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Borneo Indobara - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
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- The University of Queensland
- Indian Oil Corporation Limited
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- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
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- Australian Coal Association
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- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
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- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
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- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Planning Commission, India
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- White Energy Company Limited
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
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- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
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- Vijayanagar Sugar Pvt Ltd - India
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- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
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- Rashtriya Ispat Nigam Limited - India
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- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
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- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- CIMB Investment Bank - Malaysia
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- Economic Council, Georgia
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- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
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- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
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- SN Aboitiz Power Inc, Philippines
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- Sical Logistics Limited - India
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- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- London Commodity Brokers - England
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