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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- The University of Queensland
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
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