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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
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