- BUMI indicates a turnaround to profit of $101.6 mn in FY'16
- due to higher volume, cost reductions & efficiencies inspite of a lower price
- balance sheet has been cleaned out
- $2.6bn of debt would be settled within Jun'17 with issue of $2bn equity (at Rp 926.16/share) & $639mn of MCB's (reference price Rp 926.16/share , limited convertibility over 7 years)
- issue date for above shares & MCB's is Jun'17
- negative equity turns positive
- governance perception addressed by strengthened BOD & BOC ( from CIC & 2 other lenders)
- monitoring accountant like KPMG appointed to monitor cash waterfalls, spends & related party issues etc
- FY'17 prospects are very bright - Jan 17 figures show Realized coal price is 35.5% above FY'16 ($42.1/ton) - above guidance
- hence profit prospects in FY'17 are very 2 attractive.
Komentar
Posting Komentar