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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, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
Tuesday, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
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- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
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