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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, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
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- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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