Having Declared They Got a 19 % IRR is not that bad El, Ultimately when 12 % of it is already secured and Were Guaranteed by the rights to hold Account Receivables too.
Why BUMI? Simple El.., The Price Level They Went Down Last Year, who didnt scoop them?!. i was avg down mine back then. that made my holding a bit bigger than it should be (damn i admit it, i didnt get out when it was 8000 and i do have some initial position at 2800 ish before the lehman incident, so it would be quite clear i re-shape my position at some much bargain level) Why do i keep on flirt BUMI despite its "Smart" Management? another simple one Missy, we all know that well too.. KPC! Indonesia Natives Gotta Have Some Chunks on that crownasset... Dang KPC is a really good one. a really good one... besides i dont just pick BUMI, I Have the chunk Of all Indonesia's Coal Proxy, with diffrent concentrated proportion of course... Its Not Easy To Double Production Level When Ure Producing At 50 Mn/Tonne Level. So Far Only BUMI and ADARO sitting at those level. Adaro Is An Exact Opposing Stories of BUMI, Come Up With Lousy Balance on IPO, They Gradually Improved the Lousy-Mezzanine-Build Balance sheet to a more and more healthy one. Proceeds Of IPO (Which Held at Fairly Good Price) was mainly used for Buying The Stake Of the Minority shares which were before punching their Earning After taxes (though they too bought it at exact expensive price as high as the IPO price). nonetheless no destruction on shareholders value. the remains Internal Cash was demonstrated to be used all for Coal-related decision. that provide some good marks for the management. negative thing is its likely already reflected on the price. Full Value Level has been reached. but the upside is there though, for longer-period player, given the assuring action of the shareholders. they dont do reckless non-coal acquisition. that made the difference, the whole difference... PTBA has Best Asset, They were A sure winner. Infinite Period Of Contract with Infinite Amount Resources. Not Yet Materialized. But Time Is Our Friend With This One Problem is their execution is naturally lame and slowed. well what can we say?, they were SOE. Time and commitment as a long-term holder is always on the mental note when we were entering this one. ITMG is very Good on Free CashFlow Wise. Its Balance were mostly On Hard Assets, problem is limited amount of current Reserves. 10-11 Year Span at best now. INDY? Not A Pure Play on Coal, I have to see more on KIDECO. but its quite prident with cash management. so its a neutral one. i didnt enter these one though. under review and Yet to be tuned later on. Thanks For Ur Toughts Missy... U always bring a good point of view... On Fri, Sep 25, 2009 at 11:05 PM, Elaine Sui <elainesu...@gmail.com> wrote: > > > *I'm worried about CIC. They're just rich big fat sitting duck. You can > create a good looking proposal, walk to their office, tell them you have a > good investment opportunity, bring them to dinner at expensive restaurant. > Soon they will pour you with munnnyyy. > > There's always be the magic words 'debt restruct' and that often happens on > Bakrie Group. I didn't say CIC is not smart, I'm just saying that Bumi mgt > is waay smarter (in a sarcastic way), and CIC is too big to watch over this > 'naughty boy'.. > > I wonder, why did you pick BUMI? > > Elaine > * > On Fri, Sep 25, 2009 at 10:24 PM, kang_ocoy_maen_saham < > disclosure....@gmail.com> wrote: > >> To The Extreme, Yes Missy, I am deeply worried, hence my deep concern >> (C'mon I Hold Some Pile Of BUMI too in My Portfolio, i dont like to cash-in >> at this level and unload it now but if the shareholder value is furtherly >> ruined by bad cash management, sure miss, i'll jump the boat and bundle the >> gain. safety first, that is what i was ordered to ensure...) >> >> Current CashFlow Figure Is Already Bleak Enough Even without extra 250Mn >> P/A Cash Coupon Payment. U know what i was talkin... All that worth for >> equity holders is freecashflow... >> >> Things would be Okay If the 1.9 Bio is properly directed.(Uhm Can U >> Whisper Their Ears to do so ^_^...) >> >> What do u say about BUMI's Management Effectiveness Missy? >> >> Care Sharing Us Your PERSONAL Tought of them? >> >> >> Greatly Appreciated... Thanks Before... >> >> >> >> --- In obrolan-bandar@yahoogroups.com, Elaine Sui <elainesu...@...> >> wrote: >> > >> > *Ehhhh.. did you say JUMP OUT? you're worried about the management >> > effectiveness, are you? >> > >> > Elaine** >> > * >> >> >> >> >> ------------------------------------ >> >> + + >> + + + + + >> Mohon saat meREPLY posting, text dari posting lama dihapus >> kecuali diperlukan agar CONTEXTnya jelas. >> + + + + + >> + +Yahoo! Groups Links >> >> >> >> > > -- Each piece, or part, of the whole nature is always an approximation to the complete truth, or the complete truth so far as we know it. In fact, everything we know is only some kind of approximation, because we know that we do not know all the laws as yet. Therefore, things must be learned only to be unlearned again or, more likely, to be corrected.......The test of all knowledge is experiment. Experiment is the sole judge of scientific “truth”. - Richard Feynman
