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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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Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
Saturday, 18 August 12
BULK FREIGHT MARKETS CONTINUED THEIR DECLINE IN LINE WITH WEAK DEMAND - VISTAAR
COALspot.com - This week also the indices fell on all segments with BDI touching lowest in almost 3 years.
The BDI closed at 714 points down by 7 ...
Thursday, 16 August 12
PUBLIC PRIVATE PARTNERSHIPS CONFERENCE 2012
Press Release - Asia’s Premier Public Private Partnerships Conference 2012 will showcase commercial opportunities for investors and developers ...
Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME
COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal mark ...
Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES
COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.
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- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
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