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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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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- The University of Queensland
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
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