Ownership of PT Bumi Resources Tbk (BUMI) at PT Multi Capital increased from 5% to 99% more than the acquisition of shares pascatransaksi PT Newmont Nusa Tenggara (nnt) worth U.S. $ 391 million.

Multi Capital bought 10% stake divestment nnt 2006-2007 period. Menstransfer investment company funds to foreign shareholders account nnt, namely Newmont Indonesia Limited (NIL) and Nusa Tenggara Mining Corporation (NTMC). Transfer done Bumi Resources.

Bumi Resources for involvement in a stock acquisition transactions nnt, Indonesia Stock Exchange (IDX) asked companies under the Bakrie Group banner was given an official explanation to the public.

In the openness of information submitted to the Stock Exchange, Thursday (19/11), management of the Earth revealed, the company has facilitated transactions Compete PT Multi Region (MDB).

"In this transaction, the company is not acting as a direct party, let alone the party responsible for facilitating the MDB obligations as the buyer," said Senior Vice President of Investor Relations Dileep Srivastava, Bumi Resources.

Multi Capital is the partner company PT Maju Competitive Region (DMB), a company formed three regional governments in NTB, the NTB provincial government, the West Sumbawa Regency, and Sumbawa regency. Along with DMB, Multi MDB Capital formed a consortium, which execute the purchase of shares and divestment NIL NTMC in nnt.

Dileep Srivastava revealed, based on information obtained from the Multi-Earth Management Capital, the parties involved in the contract of sale is NIL and NTMC or Newmont as the seller. "The MDB acts as a buyer," he said.

However, Dileep did not explain further about the source of acquisition funding nnt. "We will meet the provisions of Rule IV BEI No. 3 IE of Information Delivery Obligations, if any information or other material facts," he asserted.

As confirmed Investor Daily, Dileep argued, it is not obliged to inform the authorities about the source of funds stock acquisition ditarnsfer nnt the Earth on behalf of Multi Capital.

IDX Company Valuation Director Eddy Sugito who contacted the newspaper Investor Daily explains, it will ask more questions related to the management of the Earth such disclosure.

"But we have to discuss again with the company's internal team assessment of what will be asked. I have not read the details. If the information is not deemed sufficient, we would ask for further explanation, "said Eddy told Investor Daily.

He added that written information is needed today more than meets the Earth management. "You see, the information must be immediately communicated to the public. Therefore, we are not going to call the management of the Earth, "he said.

Darma Henwa Rights Issue
Meanwhile, another company of Bakrie Group, PT Darma Henwa Tbk (DEWA), plans to issue new shares (rights issue) worth up to U.S. $ 60-65 million or around Rp 600 billion. The Company was preparing a statement of registration documents will be submitted to Bapepam-LK on November 25, 2009.

According to the Corporate Secretary Muhammad Darma Henwa Baskoro, the company will issue approximately 4-6 billion in new stock units (about 25,6-38,4%), when calculated from the total shares listed on the Stock Exchange of 15.6 billion units as of July 2009 .

"This is all new notifications, new details will be known when submit to Bapepam-LK. The ratio of new shares and the calculation time we will also reveal on November 25, 2009, "said he told Investor Daily.

Baskoro explained, Darma Henwa will use most of the rights issue funds to pay off long-term debt to a financial institution. Total long-term debt Darma Henwa recorded at the end of 2008 financial statements of about U.S. $ 82.39 million. "The remaining funds of the rights issue will be used for working capital," he explained.

Rights issue, said Baskoro, new possibilities held in January 2010. Before that, the company will ask for shareholder approval. Per quarter III-2009, Darma Henwa recorded net profit of U.S. $ 221.3 thousand, dropped 93.62% compared to same period last year of U.S. $ 3.45 million.

Source: INVESTORINDONESIA