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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, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
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