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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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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- PTC India Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- The University of Queensland
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
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