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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
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- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- ASAPP Information Group - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
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