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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, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
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