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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
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- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- VISA Power Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
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