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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, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
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- Romanian Commodities Exchange
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- Thiess Contractors Indonesia
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- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
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- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
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