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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Parliament of New Zealand
- The University of Queensland
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Australian Coal Association
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
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