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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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Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
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