-----Original Message----- From: Hilman Kamaludin [mailto:hilm...@danareksa.com] Sent: Monday, March 16, 2009 12:58 PM Subject: (BN) Tata Power Has No Plan to Sell Stake in Indonesia Bumi Mines
Tata Power Has No Plan to Sell Stake in Indonesia Bumi Mines 2009-03-16 05:43:53.657 GMT By Archana Chaudhary March 16 (Bloomberg) -- Tata Power Co., India's biggest electricity generator outside state control, said it has "no intention" to sell its stake in two Indonesian coal mines owned by PT Bumi Resources, Asia's third-biggest coal producer. "We strongly deny the rumors regarding our stakes in Indonesian Coal mines - KPC and Arutmin," Tata Power said in response to e-mailed questions from Bloomberg News today. "This acquisition is a key part of the company's growth strategy and we have no intention to sell our stake in the coal mines to Bumi Resources or any other party." Tata Power agreed to pay $1.3 billion in March 2007 to buy a 30 percent stake in coal mining units PT Kaltim Prima Coal and PT Arutmin Indonesia owned by Bumi. The agreement entitled the company to purchase 10 million metric tons of coal, securing supplies of the fuel for its Indian power plants.Tata Power said it expects to meet the loan repayment requirements on schedule. Regards, Hilman Kamaludin Account Executive PT Danareksa Sekuritas Jl. Medan Merdeka Selatan No. 14 Jakarta Pusat 10110 Telp. 021 350 9777, 021 350 9888 ext. 2836 Fax. 021 350 6076 Mobile. 0812 98 32179, 021 95 399 499 e-mail. hilm...@danareksa.com ************************************************************************ ********************* DISCLAIMER: The information contained in or attached to this e-mail is confidential and may be legally privileged. It is intended for the named recipient(s) only. If you are not the named recipient, you are hereby notified that any distribution, copying, review, retransmission, dissemination or other use of this electronic transmission or the information contained in it is strictly prohibited. The information expressed herein may contain the private views and opinions of the sender that does not constitute the formal views and opinions of PT. Danareksa (Persero) and its subsidiaries, and should not in any ways be construed as the views, offers, or acceptances of these entities, unless specifically stated. PT. Danareksa (Persero) and its subsidiaries does not take any responsibilities nor accepts any claims of liabilities and/or damages for statements which are clearly the sender's own and not made on behalf of the entities concerned. **************** CONFIDENTIALITY: The information contained in or attached to this electronic transmission is confidential and may be legally privileged. It is intended for the named recipient(s) only. If you are not the named recipient, you are hereby notified that any distribution, copying, review, retransmission, dissemination or other use of this electronic transmission or the information contained in it is strictly prohibited. The information expressed herein may contain the private views and opinions of the sender that does not constitute the formal views and opinions of PT. Danareksa (Persero) and its subsidiaries, and should not in any ways be construed as the views, offers, or acceptances of these entities, unless specifically stated. PT. Danareksa (Persero) and its subsidiaries does not take any responsibilities nor accepts any claims of liabilities and/or damages for statements which are clearly the sender's own and not made on behalf of the entities concerned. DISCLAIMER: Any person receiving this email and any attachment(s) contained, shall treat the information as confidential and not misuse, copy, disclose, distribute or retain the information in any way that amounts to a breach of confidentiality. If you are not the intended recipient, please delete all copies of this email from your computer system. As the integrity of this message cannot be guaranteed, neither PT Bank UOB Buana Tbk (Bank UOB Buana) nor any entity in the UOB Group shall be responsible for the contents. Any opinion in this email may not necessarily represent the opinion of Bank UOB Buana or any entity in the UOB Group
