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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, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
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