PT Bumi Resources Tbk post net profit US$362 million, for nine months 2009, decrease than the same period 2008 at level US$490.15 million. The weaken profit is triggered by the taxation. The company has burden tax US$173 million than US$6 million for the same period 2008.
Bumi is possibly to convert most of the debt to China Investment Corporation (CIC) into new share issued by the coal firm here. Bumi management considered to issue up to 10 percent new shares or 1.94 billion stocks of the totally issued stocks of19.40 billion.
As to the regulation of Bapepam-LK No IX.D.4 on the revised capital rise without secondary offering, the largest coal firm in the IDX plans to increase capital without secondary offering by 10 percent at maximum.
Bumi also studies the strategic alliance with Huaneng Power International in the acquisition of 90 percent shares of PT Berau Coal through PT Bukit Mutiara which 99 percent shares owned by PT Recapital Advisors. Bumi has appointed Danatama Makmur as financial advisor for the rights issue
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