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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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Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- PTC India Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
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