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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, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Planning Commission, India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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