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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, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
Tuesday, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
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- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Central Electricity Authority - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
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