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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, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
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