Kaltim Prima Coal’s Labourer Strike Ends Kompas, page 23, 2006-05-31
The Kaltim Prima Coal Labourer Strike, involving 3,000 workers, has ended. Labourers of the East Kutai-based coal company demanded the company’s share sales compensations from PT Bumi Resources Tbk to PT Borneo Lumbung Energi. Kaltim Prima Coal (KPC) plans to release a compensation fund of Rp 69.5 billion. The payment will be done in June or July 2006 after share sales realization.
KPC Receives BB- Credit Rating Bisnis Indonesia, page B1, 2006-04-12
Standard & Poor’s Rating Services stated that it has revised PT Kaltim Prima Coal’s (KPC) prospect from stable to negative and reinstated a BB- corporate credit rating for KPC. The negative prospect reflects that KPC’s financial risk profile will weaken if the company significantly increase its debt level to support KPC’s share acquisition financing.
