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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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- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
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