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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, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Planning Commission, India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
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