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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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- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
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