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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
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