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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
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