JAKARTA/ SINGAPORE, Oct 2- Indonesia's biggest coal firm Bumi Resources, facing a probe into its finances by London- listed Bumi Plc, a major shareholder, is considering selling mines and carrying out a rights issue to raise cash, officials said on Tuesday.
SINGAPORE, Oct 2- Asia's fuel oil market continued to weaken on Tuesday, with the prompt inter-month spread easing to a six-week low on lacklustre demand at a time when more supply is emerging. The balance October/November inter-month spread eased 50 cents to a backwardation of $2.38 a tonne, lowest since Aug. 21, according to Reuters data.
SINGAPORE, Oct 2- The Asian naphtha price extended losses on Tuesday to reach a three-session low of $966 while margins snapped four sessions of gains and fell to $124.95 a tonne as squeezed petrochemical margins overshadowed the firm gasoline prices in the West.
BANGKOK, Oct 2- Most Southeast Asian stock markets closed higher on Tuesday, with the Thai main index touching its highest in more than 16 years and most others hitting multi-week highs amid selective buying in regional blue chips. Indonesia's Astra International Tbk PT. and Malaysia's Axiata Group Bhd.
*Extend maturities for $1.8 bln debt to December 2016. COPENHAGEN, Oct 2- Banks are taking control of Danish shipping group Torm A/S in a rescue deal that extends repayments on $1.8 billion of debt and provides fresh funds, giving the firm time to wait for the tanker market to improve. "This deal is the rescuing of Torm," said Sydbank analyst Jacob Pedersen.
Oct 02- Fitch Ratings maintain the Rating Watch Positive on the ranks of Bank Danamon. RWP result of the acquisition proposal 67.4% share held by Temasek Holdings by DBS Group Holdings.
JAKARTA, Oct 2- Indonesia has delayed a plan to create a single time zone for the sprawling archipelago this month because of slow-moving bureaucracy. Indonesia is known for an inefficient bureaucracy and red tape, key challenges for investors in Southeast Asia's largest economy.
Oct 02- Fitch Ratings has affirmed the long-term national rating of PT Surya Artha Nusantara Finance based in Indonesia at' AA' with Stable Outlook and Short-term national rating at' F1+'. SANF ratings reflect Fitch's expectation for their support and commitment to a strong and sustained shareholder, PT Astra International Tbk.
SINGAPORE, Oct. 2- Spreads and CDS in Asia tightened marginally today after getting a boost from a better than expected ISM number in the US overnight that buoyed stock markets. However, overall it was a very uneventful day with a holiday in Hong Kong and China draining the liquidity from the market.
Oct 02- Fitch Ratings is maintaining Indonesia- based Bank Danamon's ratings, including its Long-Term Issuer Default Rating of' BB+' and its National Long-Term Rating of' AA+', on Rating Watch Positive. The RWP is pending the proposed acquisition of Temasek Holdings' 67.4% stake in Danamon by DBS Group Holdings.
Kawasan Industri Jababeka Tbl Pt leads on analyst revisions among 24 companies in Indonesia's financials sector that includes real estate companies, tracked by at least three analysts, data from Thomson Reuters SmarMine shows. The industrial estate developer has an Analyst Revision score of 99, the highest in the sector.
Indonesian chemical distributor PT Lautan Luas Tbk entered into a cosmetic and personal care joint venture with Japanese spice maker Ajinomoto Co Inc, Lautan Luas said in a statement to the Indonesian stock exchange on Tuesday.
CIMB Equity Research raised its target price on the shares of Indonesian lender PT Bank Bukopin Tbk to 1,300 rupiah from 1,200 and kept its' outperform' rating, saying higher net interest margin in the second half could be the catalyst.
STOCKS TO WATCH> The Indonesian Food and Beverage Association sees sales in 2013 will reach 760 trillion rupiah, up 6.5-7 percent from this year forecast of 710 trillion rupiah, said chairman Franky Sibarani.> Home appliance retailer PT Ace Hardware Tbk.
SINGAPORE, Oct 2- U.S. crude eased closer to $92 a barrel on Tuesday, as concerns over the pace of economic recovery in the United States and the possibility of a recession in Europe weighed on investors. was down 14 cents at $92.34 a barrel by 2338 GMT, after settling up 29 cents at $92.48 on Monday.
Financial Times Headlines BANKS REAP PROFITS ON MORTGAGES AFTER QE3- CALL FOR BANK BONUSES TO BE PAID IN DEBT- GOOGLE MARKET CAP TOPS MICROSOFT- XSTRATA RECOMMENDS GLENCORE OFFER- FOUR CHARGED IN INSIDER TRADING DEALING CASE- WORKDAY EYES $3.8 BLN VALUATION IN IPO- BAKRIES TO SELL ASSETS TO REPAY LOAN- FRANCE THROWS COLD WATER ON EADS DEAL- SAC PLACES TOP MANAGER ON LEAVE- Overview BANKS REAP PROFITS ON MORTGAGES AFTER QE3.
LONDON-- Global markets rose Monday as investors cautiously welcomed the result of stress tests of Spain's banks and upbeat U.S. economic data and looked past the threat that Moody's might downgrade the country's debt rating to junk status.
While Norwegian gas exports to continental Europe are supplied under long-term contracts that are linked to the oil price, Britain receives most of its Norwegian gas under hub market terms that are priced off Britain's National Balancing Point and have lesser binding supply obligations.
JAKARTA, Oct 1- PT Bakrie& Brothers, the investment arm of Indonesia's Bakrie Group, and affiliate Long Haul Holdings have agreed with creditors a plan to repay $437 million of debt arranged by Credit Suisse, the firm said on Monday. The group's debt situation led to heavy stock selling earlier this year of Bumi Plc and Jakarta- listed miner Bumi Resources.
LONDON-- European stocks edged higher on Monday as investors cautiously welcomed the result of stress tests of Spain's banks. But the threat that Moody's might downgrade the country's debt rating to junk status limited gains. Britain's FTSE 100 rose 1 percent to 5,800.63 while Spain's Ibex was up 0.6 percent at 7,752.10.