To be a world-class, global operator within the energy and mining sectors.OUR PHILOSOPHY
BUMI’s action are guided by three underlying principles:
The Company was established by the name of PT Bumi Modern, engaging in the hospitality and tourism industry.
BUMI conducted Initial Public Offering of Shares listed on the Jakarta and Surabaya Stock Exchanges (Currently merged and become Indonesian Stock Exchange).
PT Bakrie Capital Indonesia took over the Company’s 58.15% shares of Asuransi Jiwa Bersama Bumiputera 1912.
Through the Extraordinary General Meeting of Shareholders on 31August, it was decided to change the Company’s main business from hospitality and tourism into oil, natural gas, and mining.
The Company acquired 97.5% of the shares of Gallo Oil (Jersey) Ltd. Based on Decree of the Minister of Justice of the Republic of Indonesia No. C-21 041-TH HT.01.04. 2000 dated 20 September 2000, the Company changed the name from PT Bumi Modern Tbk to PT Bumi Resources Tbk.
In November, the Company acquired an 80% stake in PT Arutmin Indonesia (AI), the fourth largest coal producer in Indonesia.
In October, the Company purchased 100% shares of PT Kaltim Prima Coal (KPC), the largest coal producer in Indonesia, after acquiring Sangatta Holdings Ltd. (SHL) and Kalimantan Coal Ltd. (KCL).
The Company acquired a 19.99% stake in Arutmin, thereby increasing its ownership to 99.99%.
The Company successfully completed the entire process of divestment of KPC shares as required under article 26 of the Coal Contract of Work (CCOW). After completion of the divestment process, the KPC shares are as follows: SHL and KCL, the Company’s business units, respectively 24.5% and 13.6% owned directly by the Company and 32.4% owned by PT Sitrade Coal, being a Company’s business unit.
The Company bought back a maximum of 10% of the total issued shares.
30% ownership in Arutmin and KPC sold to Tata Power of India. In June and in October issued two convertible bonds worth a total of US$ 450 million, which was oversubscribed 3 to 4 times.
After going through a long process, BUMI
finally purchased Herald Resources Ltd of Australia at a value of AU$ 552 million. This mining operation, located in North Sumatra, has zinc, lead and, gold.
China Investment Corporation (CIC) provided US$1.9 billion in debt instruments, consisting of US$ 600 million to be paid back in 2013, US$ 600 million in 2014, and the remaining US$ 700 million in 2015. These investments have a cash coupon of 12% per year with a total IRR of 19%, with the principle paid at maturity. These funds were used for debt restructuring and capital expenditure.
Execution of capital increase without preemptive rights as approve in the EGMS of 24 June.
The Company has made repayment of the Tranche A of US$ 600 million of the China Investment Corporation (CIC) debt, which would have matured on 30 September 2013, paid almost 2 (two) years earlier based upon mutual agreement.
Through the EGMS on 21 May, it was decided the change in composition of members of Board of Commissioners and Board of Directors of the Company.
Through the Annual and Extraordinary General Meetings of Shareholders on 28 June, it was decided the change in composition of members of Board of Commissioners and Board of Directors of the Company. On 26 June, the Company held a celebration event for 40th Anniversary.
Shareholders approved Rights Issue IV in Extraordinary General Meeting held on June 30, 2014 - to issue up to 32,198,770,000 common shares Series B of nominal value of Rp100
per share at an offer price Rp250 per share valued at Rp8,049,692,500,000. 15,853,620,427 shares were subscribed and issued on 7 October.
During the Annual General Meeting on August 13, shareholders approved the change in the composition of the Board of Commissioners and the Board of Directors. Through the GMS resolution, the Company conducted efficiency by reducing the number of members of the Board of Directors from six to four persons and the Board of Commissioners from seven to three persons.
The Company’s restructuring plan won 99.8% support of voting secured creditors and 100% of voting unsecured creditors. Hence, Bumi Resources announced termination of PKPU proceedings and ratification of composition agreement
BUMI has closed the Right Issue. Based on Net Asset Equity Value of USD4.6 billion, conversion price would be Rp926.16 per share, using the exchange rate @ Rp13,235. Fully subscribed by shareholders & standby buyers.
|Public Accountant: Amir Abadi Jusuf, Aryanto, Mawar & Rekan||Plaza Asia Level 10 Jl. Jend. Sudirman Kav. 59 Jakarta 12910||
Phone: +62 21 514013430
Fax: +6221 51401350
|Bureau of Securities Administration: PT Ficomindo Buana Registrar||Wisma Bumiputera Tower Lt. M Suite 209 Jl. Jend. Sudirman Kav. 75 Jakarta 12910, Indonesia||
Phone : +62 21 5260976/77
Fax : +62 21 5700968
|Trustee: PT Bank Bukopin Tbk.||Divisi Treasury – Unit Kerja Wali Amanat Bank Bukopin Tower 8th floor Jl. MT Haryono Kav 50-51 Jakarta Selatan, 12770||
Phone : +62 21 7988266 ext. 1859/1861/1862
Fax : +62 21 7980705
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