Salim more Robust
One of the largest conglomerates in Indonesia, Salim Group, has more than doubled to 9.35 per cent its stake in Robust Resources, which is seeking to develop the Romang Island gold and base-metals project in Indonesia. Salim Group also holds a direct, 22.5 per cent stake in Robust Resources' PT GBU, which holds the Romang Island project.
Late payments rise
The number of severely delinquent payments by Australian business jumped by 20 per cent compared with the December 2010 quarter, according to Dun&Bradstreet.
Cockatoo Coal announced a 288 per cent upgrade to the volume of coal estimated at its 30 per cent-owned Hume project near Moss Vale to 446 million tonnes. Cockatoo shares rose 1c to 38.5c.
MF clients regroup
Clients of MF Global have formed a new group to represent their interests to administrators of the failed broker's Australian arm. In an email to other MF Global clients, futures trader Brent Penfold, who has been active in agitating for a better deal for clients, said he hoped to hand his role to the MF Global Australia Client Support Group.
Monadelphous Group said it expected December-half profit to be up to $58 million, up 27 per cent, based on a 24 per cent rise in revenue to about $870 million. This is well ahead of the 15 per cent revenue growth flagged at the annual general meeting, with buoyant growth to continue.
Milton lifts profit
Banks and other stocks boosted listed investment company Milton Corporation's first-half profit by 19.3 per cent to $54.6 million.