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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, 07 October 20
U.S. COAL PRODUCTION TO DECREASE BY 26 PERCENT IN 2020 COMPARED TO 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 525 million short tons (MMst), compared with 705 MMst in 2019, a 26% decrease.
COVID-19 a ...
Wednesday, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
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