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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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- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
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