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.

BUMI: Price Drop (again…)

For only less than 15 minutes BUMI price dropped for more than 9% (again). Does anyone know where this price goes to? What if investors only stop to sell this share when it gets  to 500 Rupiah? Who knows? My prediction comes true.

About the auto rejection, please refer to http://www.detikfinance.com/read/2008/11/07/094409/1032838/6/saham-bumi-lagi-lagi-anjlok-kepentok-auto-rejection

Another 10% (will be) cut on BUMI

Yesterday, BUMI price was cut by more than 9% and it was auto rejected by the system. Yet, another price cut apply today. Someone who bought this share two or three months ago can say “Now You See, Now You Don’t”. Price becomes lower and lower as the investors do not believe anymore to the BUMI management. BUMI company involved in a transaction with a third party that influence its price negatively on early October 2008, which investor didn’t realize before.

Below, news from Kontan daily newspaper on Friday November 7, 2008 edition.

Kamis, 6 November 2008 | 12:33

Penutupan Siang, Posisi Saham Bumi Amblas ke Rp 1.975

JAKARTA. Baru saja BEI membuka perdagangan saham PT Bumi Resouces Tbk BUMI hari ini, harganya langsung amblas. Hingga penutupan perdagangan sesi pertama di Bursa Efek Indonesia (BEI) hari ini, harga (BUMI) masih berada di posisi Rp 1.975 atau anjlok 9,2% dibandingkan harga pembukaan pagi tadi.

Jika ditotal, volume saham emiten berkode saham BUMI yang ditransaksikan mencapai 141,73 juta saham. Sementara, nilai transaksinya mencapai Rp 307,621 miliar.

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.”

Bursa Diintervensi?

Siapakah “Pemerintah” yang dimaksud oleh baik itu Dirut BEI maupun Ketua Bapepam-LK? Saya menangkap isyarat sepertinya ada yang menekan beliau berdua untuk mengambil kebijakan seperti itu. Bahkan keduanya tidak bisa mengungkapkan apa itu informasinya, walaupun di pasar modal sangat lekat dengan DISCLOSURE. Yeah, may be someday and somehow this information will be available for public. Anyway, suspending BUMI share is still in question, since it didn’t fully comply with the regulation. The spirit of the regulation states that suspend could be applied when there is no clear information available in the market or the exchange suspect any bias information distribute to the market. However, I might be misinterpret the regulation.

Hereby, I attach news from Kompas daily newspaper from Thursday November 6, 2008 edition.