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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, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- White Energy Company Limited
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
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