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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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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
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