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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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Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
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