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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, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Tuesday, 28 July 15
INDONESIA DELAYS PLAN TO RAISE COAL ROYALTIES AMID PLUNGING PRICE - JP
The government will postpone a plan to increase royalty payments from coal miners as they are already burdened with the commodity’s plunging ...
Tuesday, 28 July 15
API 5 FOB NEWCASTLE COAL SWAP LOST M-M AND GAINED W-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.15 per MT (-2.51%) month over month to US$ 44.62 per mt. The swap ...
Monday, 27 July 15
KOMIPO INVITES BIDS FOR TOTAL 545,000 MT OF COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase total 545,000 Metric Tons (MT) of coal ...
Monday, 27 July 15
CFR SOUTH CHINA COAL SWAP WEAK M/M; FIRM W/W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.92 (1.77%) per MT month over month.
A commodity swap ...
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- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
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