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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, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
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- Sindya Power Generating Company Private Ltd
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- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
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- Parliament of New Zealand
- Planning Commission, India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Mjunction Services Limited - India
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- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
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- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
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