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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
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