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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, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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