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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
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