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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Mjunction Services Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- White Energy Company Limited
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
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