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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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Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- McConnell Dowell - Australia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Planning Commission, India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- The University of Queensland
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
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