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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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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
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- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
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- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
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- Rashtriya Ispat Nigam Limited - India
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- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
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- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
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