buy at 700 again? :) 2009/1/7 Vincent Chase <chase.vinc...@yahoo.com>
> no prob coz u dont have bumi or u want to collect more? > > *Elaine Sui <elainesu...@gmail.com>* wrote: > > *No problem at all. > > Elaine** > * > On Wed, Jan 7, 2009 at 10:19 AM, adjies2000 <ad2...@cbn.net.id> wrote: > >> >> Dear Elaine, Pls commment >> >> pagi ini rontok diabwah 800...Dewa menyusul ....any comment ? >> >> Salam >> ============================================================ >> >> Our Comment (Kim Eng) >> >> Yesterday Bumi Resources sent a letter to Indonesian Stock Exchange >> reporting that, through a subsidiary Bumi Resources Investment, it has >> signed a Sales and Purchase Agreement with Ancara Properties Limited >> (SPA). Our understanding of the transaction included in the SPA: >> Bumi purchases 76.9% stake in Leap Forward Finance Limited from >> Ancara. Leap Forward Finance Limited owns 98.5% PT Fajar Bumi Sakti >> (FBS). The estimate transaction value is Rp2.5t. The letter says >> that the transaction is not material and bears no conflict of >> interest. We found a company call Fajar Bumi Sakti on the internet >> (www.fajarbumisakti.co.id). According to the website and to >> Bloomberg, the company shares the same address and some members of >> management/key personnel with Bumi Resources. No further details are >> available. We are contacting the management on the above issue. >> According to the website, FBS owns two coal concessions in Tabang, >> East Kalimantan with reserve of 100m tons and another small mine 988ha >> concession in Loa Ulung Tenggarong, East Kalimantan with reserves of >> 14m tons. Assuming that FBS only owns these concessions, the >> acquisition value is high US$2.6/ton reserves compared to Bumi >> valuation of US$0.93/ton reserves. Based on the reserves we do not >> see the acquisition to add value for Bumi Resources. The acquisition >> raised concerns over good corporate governance. We are revising down >> our previous target price of Rp1,130 and recommend SELL on the counter. >> >> The board of Indonesian Central Bank governors will meet today. >> Speculation arises that the board will cut rate. >> >> Katarina Setiawan >> >> >> >> >> >> >> ------------------------------------ >> >> + + >> + + + + + >> Mohon saat meREPLY posting, text dari posting lama dihapus >> kecuali diperlukan agar CONTEXTnya jelas. >> + + + + + >> + +Yahoo! Groups Links >> >> >> >> > > >
