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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, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Australian Coal Association
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
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