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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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Monday, 02 November 20
PHILIPPINES GOVERNMENT SAYS NO TO NEW COAL PLANT PROPOSALS - IEEFA | 24 PILIPINAS
The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on dec ...
Sunday, 01 November 20
GRADUAL RECOVERY FOR INDONESIAN COAL FROM 4Q20; RISKS REMAIN - FITCH RATINGS
Fitch Ratings expects the credit metrics of Indonesian coal miners and coal contractors to improve from 4Q20 with the recovery in volumes and price ...
Wednesday, 28 October 20
BIODIESEL - NEW FUELS, NEW CHALLENGES - GARD | DNV GL
KNOWLEDGE TO ELEVATE
One of numerous possible ways to comply with the IMO’s strategy on the reduction of greenhouse gas (GHG) emissions ...
Wednesday, 28 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.94 points Monday, up 0.35 percent week on week.
The index, released by China ...
Wednesday, 28 October 20
MARKET INSIGHT - INTERMODAL
The global strive towards eco-friendliness and environmental sustainability in the shipping industry is mounting. There are currently almost 200 co ...
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- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Planning Commission, India
- Parliament of New Zealand
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
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