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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- The University of Queensland
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
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