BUMI: Back on Track

I say so since the investors were in turbulence last week. Last week, there was news that George Soros and other two hedge funds are collecting coal industry stock including BUMI. Also, the investors were waiting on whether the Bakrie & Brothers Tbk BNBR) Extraordinary General Shareholder Meeting in December 2008. Rumor stated the company proposed an extension for more than a week. Investors’ feeling had been shaken as there is no news on who is Odickson Finance SA, the biggest creditor to BNBR.  Odickson hold more than 80% of BNBR debt. While investors aware of Bakrie Group was buying back its shares, the situation was changed as the Odickson got paid by Northstar Pacific Partners. No information how the transaction was done, neither how BNBR considered its buy back action.

Back to BUMI, reading newspaper which told BUMI had raised its long term debt for 10000% for the last one year. This is logic since BUMI did some actions like Herald Resources acquisition. I would like to share its Company Report Summary for the first half year of 2008.

For those reasons, I don’t believe if the investors still pay their interest to this stock. May be, this share will be back to the low price stock category. Who knows?

BUMI: Price Drop (again…and will be again…)

I assume you already read my previous posting regarding the same issue. Please make sure that you will follow the news and my prediction by the end of next week. Following the last public expose made by Bakrie Group yesterday, I don’t know if investors still put this share into their account. Updated news can be gathered from the description below.

Grup Bakrie vs Menteri Keuangan (siap mundur)

Yang dimaksud Grup Bakrie disini bukan cuma yang bersifat perusahaan lho, termasuk personal2nya juga walaupun nama belakangnya bukan Bakrie.

Below, headline news taken from Koran Tempo daily newspaper Friday November 7, 2008 edition.

Sri Mulyani Ancam Mundur

Kisruh saham Grup Bakrie di kabinet menjadi pemicunya.

JAKARTA — Menteri Keuangan Sri Mulyani Indrawati beserta seluruh jajaran eselon satu Departemen Keuangan, Rabu malam lalu, menyampaikan rencana pengunduran diri kepada Presiden Susilo Bambang Yudhoyono.

Niat itu disampaikan oleh Sri beserta jajaran lengkap pejabat Departemen Keuangan di Istana Negara, Jakarta. “Pertemuan itu hanya dilakukan dengan Presiden,” kata sumber Tempo di lingkungan Istana. “Sekitar pukul 11 malam.”

Wimar: Menyelamatkan Bakrie

Lumayan oke juga ulasan Wimar di bawah ini yang diambil dari http://news.okezone.com/index.php/ReadStory/2008/10/20/58/155567/menyelamatkan-bakrie . Saya juga heran kenapa saham bakrie di suspend begitu lama padahal sudah ketahuan apa yang akan dilakukan walaupun belum selesai. Intinya, informasi sih sudah jelas cuma belum selesai.