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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
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