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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Planning Commission, India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
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