GS [BUMI] : Removed from Asia Pacific Sell List Last week, Bumi announced that it has increased its stake in PT Multicapital (MC) to 99% from 5%. MC (through a 75% JV) is acquiring a 24% stake in PT Newmont Nusa Tenggara (NNT) for US$884 mn. As a
result, we have raised our 2010E/11E EPS by 29%/22% and upgraded our 12-month
target price to Rp2,650/share
