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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
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- Cement Manufacturers Association - India
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- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
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- Larsen & Toubro Limited - India
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- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
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