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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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Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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