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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, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
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