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Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
 Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” or the “Company”) is pleased to announce that as a follow up to our announcement dated 7 October 2011, the Company and another Bakrie related entity, Long Haul Holdings (“LHH” - collectively known as “Bakrie Group”), has embarked on a strategic partnership with PT Borneo Lumbung Energi & Metal Tbk (“BORN”) with the signing of a Sales and Purchase Agreement (“SPA”) which took place in Jakarta on 31 October 2011.
Under the terms of the SPA and upon completion of the transaction, Bakrie Group and BORN will own indirectly 47.6% shareholding in London listed Bumi plc, which in return owns direct and indirect investments in PT Bumi Resources Tbk, PT Berau Coal Energy Tbk and PT Bumi Resources Minerals Tbk.
The transaction is valued at USD 1 billion which values Bumi plc’s shares at approximately GBP10.91 at the date of announcement, representing a premium of:
• Approximately 46% to the closing price of Bumi plc’s shares on the LSE on 28 October 2011 and approximately 45% premium to the last 20-day volumeweighted average trading price of Bumi plc’s shares.
• Approximately 5% premium to the last 6 month volume-weighted average trading price of approximately GBP10.34
The consideration will be payable in cash and Bakrie Group will use the proceeds from the transaction to pay down a financing facility initially coordinated by CS (“CS Loan”), therefore reducing BNBR’s overall debt position considerably.
Bakrie Group expects to complete the transaction on or around the end of December 2011 following BORN shareholders approving the transaction and satisfaction of regulatory and other approvals.
“This transaction is another important step forward for the Company as it enhances our objectives for the creation of an “Indonesia Inc.” in an international mining company. The deleveraging aspect of this transaction is also important as it provides BNBR with a healthier and stronger balance sheet. Furthermore, we have again demonstrated our commitment to meet our creditors’ obligations and highly appreciate their support towards BNBR especially during these volatile market conditions,” said Bobby Gafur Umar, President Director and CEO of BNBR.
BNBR will make appropriate disclosures upon completion of all relevant documentation and approvals.
Credit Suisse assisted BNBR in a financial advisory capacity
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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
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