Coal mining contractor PT Darma Henwa Tbk (DEWA), an affiliated of coal miner PT Bumi Resources Tbk (BUMI), were in frenzy acquisitions last year. However, the actions have raised questions. The story of the takeovers began on May 22 2007 when Darma Henwa acquired Prove Energy Investments, a British Virgin Islands-based SPV, from Zurich Asset Read more
Prasatya family has offered 200 million shares with upsize option of 88 million shares or in total representing 16.5% of the issued capital in coal tug boat and barges provider PT Mitrabahtera Segara Sejati Tbk (MBSS) at Rp1,560-Rp1,630 a share. In the offering structure obtained by The Insider Stories yesterday, PT Patin Resources, owned by Read more
Indonesia’s largest coal exporter PT Bumi Resources Tbk (BUMI) aims to dispose up to 20% stake in non-coal mining company PT Bumi Resources Minerals Tbk (BRMS) to strategic investors. The shares sale will be used by Bumi to put down its debt, particularly to its largest lender China Investment Corporation (CIC) and other creditors. Bumi Read more
PT Berau Coal Energy Tbk (BRAU) is seeking an approval from its shareholders regarding to a transfer authority to board of commissioner for 3.40 billion of new shares issuance or nearly 10% of outstanding shares. Such matter will be discussed during an extraordinary general meeting (EGM) with two other agendas, said Berau’s management in a Read more
PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeover of PT Andalan Satria Lestari worth Rp8.70 billion. Hermawan Tarjono, Director of Dian Swastatika, said the acquisition is held by DSSA’s unit dubbed PT Bumi Kencana Eka Sejahtera. Bumi Kencana bought 87,000 shares issued by Andalan Lestari Read more
One of nickel miners PT Vale Indonesia Tbk (INCO) on Friday has appointed Ricardo Rodrigues de Carvalho as the president commissioner of the company, replacing Peter Poppinga, while Poppinga remains as a member of the board of commissioner of the company. The shareholders of the Company also accepted the resignation of Tito B. Martins as Read more
One of Indonesian tycoon Ibrahim Risjad, father of businessman Rizal Risjad, has passed away on February 2012 in Singapore due to illness at the age of 77. Ibrahim Risjad, stellar businessman during President Soeharto era,is a non-executive director of First Pacific Company Limited, a holding company of Indofood Group that is controlled by Anthony Salim. Read more
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