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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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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- The University of Queensland
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
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