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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Planning Commission, India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
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