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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
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