http://www.financeasia.com/article.aspx?CIaNID=92346
maybe this can help Analysts estimate that Bumi Resources has paid an acquisition value of $2.6/tonne of reserves, which, to say the least, is pricy compared with Bumi's own current valuation of $0.93/tonne of reserves. Not surprisingly, as one Jakarta-based international banker says, "the deal is perceived as value-destructive for Bumi shareholders". So, inevitably, bankers and analysts who won't be named wonder if Bumi, by paying over the odds, is channeling cash to Bakrie-controlled private or affiliated companies. The purpose is also cause for speculation as this money could otherwise be used to repay debt directly, or indirectly by bankrolling other firms which, according to Bakrie comments over Christmas, have agreed to take over group loans in return for small equity stakes in Bumi. B always very good in this kind of thing, sold one cheap but he can get it back even cheaper or even free. Just pray that Foreign was just messing around with the stock price and not being serious for dumping it and get out from it cause when F is out u know wats gonna happen. Dooms day.
