JAKARTA: PT Multi Daerah Bersaing (MDB), a subsidiary of PT Bumi Resources Minerals Tbk (BRMS), today obtained US$54 million dividend from gold miner PT Newmont Nusa Tenggara (NTT).Investor Relations BRMS Herwin Hidayat stated in the press release that Multi Daerah Bersaing obtained such dividend because its holds 24% stake in Newmont.This is the fourth dividend obtained by Multi Daerah Bersaing as BRMS subsidiary. Earlier, Multi Daerah seized US$118.8 million dividend this year alone, he said.The money will be used for the repayment of loan facility from Credit Suisse. According to him, BRMS has paid the loan facility from Bright Ventures Pte Ltd as much as US$148.8 million early this week.We also have other loan in form of Mandatory Convertible Note from PT Bumi Resources Tbk valuing to US$547 million. The fund was converted into capital ownership of BMS three months after listing," he added.With the fund conversion, the company debt to capital ratio is expected to improve to level 0.15x before the end of March 2011In addition, BRMS controls 75% holding in MDB and MDB currently holds 24% of Newmont shares. (t06/wiw)

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