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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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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
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- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
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