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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
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