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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- White Energy Company Limited
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
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