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Today's Headlines Bumi Plc

Latest Columns Bumi Plc

  • Indonesian Miner Bumi Resources almost Defaulted on $300 Million Bond

    Bumi Resources, a leading Indonesian coal mining company, came close to default on its USD $300 million November 2016 bond before paying an overdue coupon earlier this week. The company, which is in the hands of the controversial Bakrie family, is obliged to make two coupon payments per year but postponed payment due on 12 May 2014 in order to negotiate with its creditors and lenders. According to a statement of Bumi Resources Director Dileep Srivastava, the payment was done on 11 June 2014.

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  • Small Loss for Indonesia's Stock Exchange amid Weak Global Sentiments

    Despite a good opening, weakening Asian stock markets dragged the Indonesia Stock Exchange (IHSG) downwards in today's trading day. At the start of the day, market participants may have hoped that Indonesia's main indicator would gain again, but a low trade volume turned it negative. Moreover, investors seem to wait for the result of Bumi Plc's shareholders meeting, and the negative opening of European stock indices contributed to the decline.

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  • Agreement Reached in Separation of Bakrie Group and Bumi Plc

    Agreement Reached in Separation of Bakrie Group and Bumi Plc

    Yesterday it was announced that the Bakrie Group, one of Indonesia's most controversial and richest conglomerates, has signed a heads of terms agreement that sets out conditions for the Bakrie's withdrawal from London-listed coal miner Bumi Plc. Bumi Plc, having the largest coal deposits in Indonesia at its disposal, was established in 2010 by British financier Nathaniel Rothschild and the Bakrie Group to bring coal assets to European investors.

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