Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Asia Energy PLC (GCM)

  Print      Mail a friend       Annual reports

Thursday 18 November, 2004

Asia Energy PLC

Financing Update

Asia Energy PLC
18 November 2004

                                Asia Energy PLC


PHULBARI RECEIVES LETTER OF INTEREST FROM THE EXPORT CREDIT AGENCY OF THE UNITED
                               STATES GOVERNMENT



18 November 2004


Asia Energy PLC ('Asia Energy' or the 'Company') announced today the
Export-Import Bank of the United States ('Ex-Im Bank') has indicated its
willingness to review an application for the financing of up to US$250 million
of United States content for the development of its Phulbari Coal Project in
north-west Bangladesh.


The Company said its financial advisers, Barclays Capital, had received a Letter
of Interest from Ex-Im Bank outlining their likely indicative terms and
conditions for participation in the financing of the Phulbari Project.


Asia Energy is planning to invest US$530 million in developing a major 15
million tonne per annum exporting coal mine at Phulbari with the aim to commence
production during 2007.


David Lenigas, Asia Energy's Joint Managing Director, said, 'The US is a major
manufacturer and supplier of mining equipment to the global industry. The Letter
of Interest from Ex-Im Bank for the financing of Phulbari enhances Asia Energy's
ability to negotiate with the US based equipment suppliers at this time.'


Key Indicative terms and conditions from Ex-Im Bank's - Project Finance Letter
of Interest No: L1081228XX (Expiry Date: May 14, 2005) are as follows:




1) Maximum OECD Coverage. Ex-Im Bank is willing to consider providing the
   maximum coverage allowed under the OECD Arrangement on Export Credits. Such
   coverage could consist of a loan or guarantee of a commercial bank loan for 
   up to 85% of the eligible U.S. costs; the allowance of up to 15% foreign 
   content incorporated into the U.S. equipment; support of local costs up to 
   15% of the U.S. contract; a repayment profile, grace period, and repayment 
   term in accordance with the new OECD Guidelines; capitilization of interest 
   during construction; and a comprehensive or political coverage during 
   construction. Through this structure, Ex-Im Bank will support the maximum 
   amount of U.S. content requested by the applicant.



2) Interest Rates. Ex-Im Bank would provide direct loan and guarantee options, 
   as requested. Under the direct loan option Ex-Im Bank would provide the
   Commercial Interest Reference Rate (CIRR) in effect on the date of Ex-Im 
   Bank's final authorization. The current CIRR rate, which is subject to change 
   on the 15th of each month, is 4.75 percent per annum through December 14, 
   2004 for loans of the offered tenor.



Ex-Im Bank would consider participating in the financing for this transaction
subject to receipt of the necessary application materials, and a favourable
detailed analysis of the project and its financing structure. Any participation
by Ex-Im Bank would be subject to standard commercial terms and conditions and
its credit approval.





NOTES TO EDITORS



ABOUT ASIA ENERGY PLC



Asia Energy PLC is a London-based AIM quoted company whose primary activity is
the development of an open cast coal mine at Phulbari in north-west Bangladesh
that is projected to produce 15 million tonnes of high quality coal per year.



Its objective is to start mining in 2007 in a technically, environmentally and
socially world-class operation, which will feed Asia's major seabourne markets
with high quality export coal and provide a vital new long-term source of
sustainable energy to Bangladesh.



ABOUT EXPORT-IMPORT BANK OF THE UNITED STATES



• The Export-Import Bank of the United States ('Ex-Im Bank') is the
  official export credit agency of the United States. Ex-Im Bank's mission is to
  assist in financing the export of U.S. goods and services to international 
  markets.



• Ex-Im Bank enables U.S. companies - large and small - to turn export
  opportunities into real sales that help to maintain and create U.S. jobs and
  contribute to a stronger national economy.



• Ex-Im Bank does not compete with private sector lenders but provides
  export financing products that fill gaps in trade financing. The Bank assumes
  credit and country risks that the private sector is unable or unwilling to
  accept. It also helps to level the playing field for U.S. exporters by 
  matching the financing that other governments provide to their exporters.



• Ex-Im Bank has supported more than $400 billion of U.S. exports,
  primarily to developing markets worldwide.



Further details on Ex-Im Bank can be found on their www.exim.gov website.



FOR FURTHER INFORMATION:


David Lenigas, Joint Managing Director                          Justine Howarth
david.lenigas@asia-energy.com                                   Parkgreen Communications
Michael Frayne, Joint Managing Director                         Tel: +44 (0) 20 7493 3713
michael.frayne@asia-energy.com                                  justine.howarth@parkgreenmedia.com
Asia Energy Plc                                                 cathy.malins@parkgreenmedia.com
Tel: +44 (0) 20 7409 0890, Fax: +44 (0) 20 7409 2750
info@asia-energy.com; www.asia-energy.com
Laith Reynolds, Executive Director (CEO- Bangladesh)
Bangladesh: +8801733011445




                      This information is provided by RNS
            The company news service from the London Stock Exchange