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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, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- The University of Queensland
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- White Energy Company Limited
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Australian Coal Association
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
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