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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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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
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- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
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- White Energy Company Limited
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- Central Electricity Authority - India
- Australian Commodity Traders Exchange
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- Ministry of Finance - Indonesia
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- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
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- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
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- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
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- Madhucon Powers Ltd - India
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- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- The University of Queensland
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- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
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- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
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- SN Aboitiz Power Inc, Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
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- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
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- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
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- Planning Commission, India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
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- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
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- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
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- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
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