Bumi resources

Darma Henwa, Prove Energy & Corfield takeovers

Coal mining contractor PT Darma Henwa Tbk (DEWA), an affiliated of coal miner PT Bumi Resources Tbk (BUMI), were in frenzy acquisitions last year. However, the actions have raised questions. The story of the takeovers began on May 22 2007 when Darma Henwa acquired Prove Energy Investments, a British Virgin Islands-based SPV, from Zurich Asset Full Article

Bumi & Bumi Minerals, what is next?

Indonesia’s largest coal exporter PT Bumi Resources Tbk (BUMI) aims to dispose up to 20% stake in non-coal mining company PT Bumi Resources Minerals Tbk (BRMS) to strategic investors. The shares sale will be used by Bumi to put down its debt, particularly to its largest lender China Investment Corporation (CIC) and other creditors. Bumi Full Article

Berau Coal & 3.40 bio shares issuance

PT Berau Coal Energy Tbk (BRAU) is seeking an approval from its shareholders regarding to a transfer authority to board of commissioner for 3.40 billion of new shares issuance or nearly 10% of outstanding shares. Such matter will be discussed during an extraordinary general meeting (EGM) with two other agendas, said Berau’s management in a Full Article

Bumi aims Rp3.9 trio shares buyback

Indonesia’s largest coal exporter PT Bumi Resources Tbk (BUMI) today announces a buyback of 780 million shares or 3.75% of its outstanding shares with a commitment to spend Rp3.90 trillion cash from part of its net profit. Bumi must complete the buyback within 18 months after it obtains approval of extraordinary general meeting scheduled on Full Article

Bumi Resources 1H profit up 8.76%

Indonesia’s largest coal exporter PT Bumi Resources Tbk (BUMI) reported a 8.76% increase in net profit for the first half of this year as higher average selling price. BUMI booked US$274.37 million net profit in 1H 2011 from US$252.26 million in 1H 2010. Referring to the 1H 2011 profit, it counted 88.22% of BUMI’s full Full Article

Bumi Minerals 1H net profit surges 96.82%

PT Bumi Resources Minerals Tbk (BRMS), a non-coal subsidiary of coal miner PT Bumi Resources Tbk (BUMI), reported a 96.82% jump in net profit for the first half of this year. In a press statement today, the profit jump was mainly driven by the favorable realized commodity prices and the reduced interest and financing charges. Full Article

Bumi & Berau Coal 1H coal output

Two coal miners PT Bumi Resources Tbk (BUMI) and PT Berau Coal Energy Tbk (BRAU) in the first half of this year reported a 5.48% decrease and 17.07% increase in coal sales volume. In an official statement published by Bumi Plc today, BUMI reported 29.3 million tons in coal sales volume in 1H 2011 from Full Article

Bumi Plc 1H operating profit US$62 million

Bumi Plc, London-listed parent company that controls two previous coal assets in Indonesia, reported a US$62 million in operating profit for the first half of this year on the back of higher thermal coal prices. However, the company recorded a US$308 million net loss in 1H 2011. The net loss was contributed by loss in Full Article

Darma Henwa disposes Coal Vista

One of Indonesia’s coal contractor PT Darma Henwa Tbk (DEWA), that is owned by PT Bumi Resources Tbk (BUMI), via its subsidiary dubbed Prove Energy Investments bagged US$80 million from the sale of 100% shareholding in Coal Vista Resources Ltd to Thionvilee Fiancier Ltd. According to DEWA’s Corporate Secretary Didit Setiadi, the company will use Full Article

Bumi Plc to raise 3.9% stake in BUMI

A number of shareholders in PT Bumi Resources Tbk (BUMI), Indonesia’s largest thermal coal exporter, has agreed to sell an aggregate of 800.33 million shares in BUMI. In an official statement published tonight, the shares are representing 3.9% of the issued ordinary share capital of Bumi Resources. The shares will be swapped with 13.88 million Full Article

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