Updates from December, 2012 Toggle Comment Threads | Keyboard Shortcuts

  • Virtual Chitchatting 9:31 AM on 2012/12/03 Permalink  

    How Savages (2012) Overcasting Blake Lively’s Shining Figure (4) 

    201106


























    by s3ra

     
  • Virtual Chitchatting 9:30 AM on 2012/12/03 Permalink  

    How Savages (2012) Overcasting Blake Lively’s Shining Figure (3) 

    20121009, Blake Lively at Chanel Fine Jewelry’s 80th Anniversary of the Bijoux de Diamants Collection in New York City

    Photo: Fame/Flynet, Getty, INFdaily, Splash News, WENN






















    by s3ra

     
  • Virtual Chitchatting 9:29 AM on 2012/12/03 Permalink  

    How Savages (2012) Overcasting Blake Lively’s Shining Figure (2) 

    20121015, Blake Lively on the set of Gossip Girl in New York City

    Photo: Bauer-Griffin, Fame/Flynet, INFdaily, Splash News, WENN















    20120920, Blake Lively on the set of Gossip Girl in New York City

    Photo: INFdaily




    by s3ra

     
  • Virtual Chitchatting 9:28 AM on 2012/12/03 Permalink  

    How Savages (2012) Overcasting Blake Lively’s Shining Figure 

    indonesia as the escapade from the baja cartel, the vicious mexican drug cartel and blake likely began to live again “like savages” in Indonesia

    by S3ra Sutan Rajo Ali
    Jakarta, 3 December 2012 03:24:37

    why do you think the united states invaded afghanistan? not the oil, but the best cannabis in the world.

    the script writer of the movie titled Savages knew how to sew the red yarns tying what really actually happened and happens in the world. what impressed me much is that they are very pleased and amazed with the sweetness of indonesian people. and blake lively still thinks indonesia as a jungle with no toilet paper. but blake lively claimed and admitted indonesia’s magic island or the voodoo island, shall i say?

    the script writer is also well informed about the sayings in islam, just like
    @01:12:38,312, May AIIah be with you.
    @01:26:33,563, If the mountain doesn’t come to Mohammed, Mohammed comes to CaIifornia.

    the script writer is also very well informed about the economics and politics. the highly legalised corrupted bureaucrates in each and every government institutions alike. the neo-libs have justified the existence of the political clowns to have been existing on tv.

    The screenplay was written by Shane Salerno, Winslow and Stone. The film was released on July 6, 2012 and on DVD and Blu-ray on November 13, 2012.

    a pity to john travolta’s downgrading lives, careers, and roles

    what do you know about hillary clinton? another savage. she is a savage. she is a slut loving sucking jewish cocks.


    The magnetic torrent for Savages (2012)

    Savages UNRATED (2012) 720p BrRip x264 – YIFY
    3 files, 1 GiB (1076818029 Bytes), 1097 seeders, 226 leechers
    2012-11-04 04:22:40 GMT, YIFY, green, VIP
    magnet:?xt=urn:btih:fd90a3ee246ea7dbfa9ae567c1184f4f8fbf64cb&dn=Savages+UNRATED+%282012%29+720p+BrRip+x264+-+YIFY&tr=udp%3A%2F%2Ftracker.openbittorrent.com%3A80&tr=udp%3A%2F%2Ftracker.publicbt.com%3A80&tr=udp%3A%2F%2Ftracker.istole.it%3A6969&tr=udp%3A%2F%2Ftracker.ccc.de%3A80

    http://thepiratebay.se/torrent/7790266/Savages_UNRATED_%282012%29_720p_BrRip_x264_-_YIFY

    FORMAT…………………..: MP4
    CODEC……………………: X264
    GENRE……………………: Crime
    FILE SIZE………………..: 1.00 GB
    RESOLUTION……………….: 1280*536
    FRAME RATE……………….: 23.976 fps
    LANGUAGE…………………: English
    SUBTITLES………………..: English
    RUNTIME………………….: 131 mins

    Entrepreneurs Ben, a peaceful and charitable marijuana producer, and friend Chon, a former Navy SEAL, run a lucrative, homegrown industry – raising some of the best weed ever developed. They also share a one-of-a-kind love with Ophelia. Life is idyllic in their Southern California town… until the Mexican Baja Cartel decides to move in and demands that the trio partners with them. When the merciless head of the BC, Elena and her enforcer, Lado, underestimate the unbreakable bond of the three friends, Ben and Chon – with the reluctant assistance of a dirty DEA agent – wage a seemingly unwinnable war against the cartel. And so begins a series of increasingly vicious ploys and maneuvers in a high stakes, savage battle of wills.


    The plot

    Best friends Chon (Taylor Kitsch) and Ben (Aaron Johnson) are marijuana growers living in Laguna Beach, California. Chon, a former Navy SEAL, smuggled the seeds for the plants out of Afghanistan. These seeds yielded a particularly potent strain of marijuana that soon developed a wide customer base and made Chon and Ben very wealthy. The two are in a polyamorous relationship with O (Blake Lively) as a girlfriend.

    While Ben is doing charity work overseas, Chon and O receive a video from cartel enforcer Lado (Benicio del Toro), a man they do not know. The video shows several severed heads and a chainsaw, leading them to worry about Ben, who they fear is one of the victims. However, Ben returns safely the next day, and Chon and Ben go to meet with the Mexican cartel. After refusing the cartel’s offer for a partnership, Chon and Ben make plans with O to leave and go to Indonesia for a year, not telling her that they are fleeing the cartel.

    Chon and Ben speak to corrupt DEA agent Dennis (John Travolta) who urges them to partner with the cartel. O, meanwhile, is kidnapped by Lado and several members of the cartel. Chon and Ben are notified of O’s kidnapping via a Skype call from cartel leader Elena (Salma Hayek), who threatens to harm O before again urging the two to partner with the cartel.

    Chon and Ben speak with Dennis about the situation, but the conversation turns sour, with Chon stabbing Dennis in the hand and punching him in the face. After Dennis angrily leaves, Chon and Ben decide to retaliate. With help from Chon’s Navy SEAL friends, the duo attacks a cartel truck, killing seven of Elena’s men. The duo decides to frame Alex (Demián Bichir) for the murders. With help from Dennis, they falsify the evidence and give it to Lado, who tortures the man before forcing Ben to immolate him. While being tortured, the man begs for his life “On the head of Magda”, revealing to Chon and Ben that Elena’s daughter is still alive.

    O has been kept in horrible living conditions while asking to speak to someone. Elena, feeling sorry for her, allows her to contact her mother. While in captivity and after drugging her, Lado rapes O and records it. Elena later brings her to her estate to have someone to talk to.

    Meanwhile, Ben and Chon bribe Dennis for information on Magda (Sandra Echeverria), ultimately paying him $3 million for the information and the name of his snitch in Elena’s cartel. After kidnapping Magda, Ben and Chon skype Elena once more, establishing that they are now in control. With Elena at their mercy, the two arrange a meeting, at which point both O and Magda will be released.

    The exchange is set to occur in the middle of the desert, with snipers from both sides prepared to fire. Elena requests to know the identity of the man who revealed the location of her daughter, and Chon reveals that it was Lado. Elena attempts to kill Lado, but he shoots her first. An intense shootout erupts, with Chon being shot several times. Lado is shot in the back by Ben, but manages to shoot Ben in the neck before being killed by O. With Ben mortally wounded, Chon injects him, himself, and O with a fatal overdose, so the three can die together.

    It is then revealed that this sequence is how O feared the events would transpire. In reality, Lado steals Elena’s car and drives off as DEA agents arrive, led by Dennis. Everyone at the meeting is arrested, but since Ben possesses incriminating information on Dennis, Dennis names Ben and Chon as his informants for the past six years, leading to them being released from jail. Ben, Chon and O leave the country together and live “like savages” in Indonesia.


    The production

    By August 2011, the film was shooting in the Pacific Palisades neighborhood of Los Angeles.The sex scenes were filmed during the first three days. The film entered post-production in October 2011.

    “We had two weeks rehearsal, so we talked about it until we were about to pass out. I think I had known Blake for three or four days, before we shot [those scenes]. That was the first week of shooting. It was just about trusting Blake and Oliver, like you do on any set. I was just glad it was over with, to be honest. It’s very awkward to do. It’s such a big part of Chon and who he is. That’s how you meet him, so it’s a pretty intense reveal, no pun intended. It’s all part of it, but I was glad it was in the first week.”

    • Kitsch on shooting sex scenes[4]

    The dialogues

    00:03:48,478 –> 00:03:51,647
    CaII me O.
    I was named after OpheIia,

    00:03:51,815 –> 00:03:55,401
    the bipolar
    basket-case in HamIet,
    who committed suicide.

    00:08:42,105 –> 00:08:44,690
    So where do you
    think the best cannabis
    in the worId comes from?

    00:08:46,735 –> 00:08:48,110
    Afghanistan.

    00:08:53,783 –> 00:08:57,036
    So, Chon, from the most
    dangerous ground in the world,

    00:08:57,204 –> 00:09:00,956
    smuggles back
    the finest seeds.

    00:09:06,588 –> 00:09:08,380
    lt grew.

    00:09:08,548 –> 00:09:10,507
    Within six years,
    they had a couple of farms

    00:09:10,592 –> 00:09:12,343
    and a great customer base.

    00:09:20,810 –> 00:09:23,938
    lt became urban legend.

    00:09:24,105 –> 00:09:25,481
    lf you ask any serious head

    00:09:25,649 –> 00:09:28,776
    where the best
    dope in the world
    in the 21 st century is,

    00:09:28,944 –> 00:09:32,947
    it’s not ThaiIand, Jamaica,
    and certainly not Mexico.

    00:09:40,664 –> 00:09:45,334
    lt’s right here
    in CaIifornia, USA.

    00:10:35,010 –> 00:10:39,888
    Fifteen miIIion
    satisfied customers
    can’t all be wrong.

    00:10:43,393 –> 00:10:45,686
    But the big money comes
    from shipping it out of state.

    00:10:47,689 –> 00:10:51,942
    At high prices,
    they get up to
    $6,000 a pound.

    00:15:26,843 –> 00:15:29,052
    CIose your Iegs,
    it’s showing.

    00:15:30,054 –> 00:15:31,346
    Sorry.

    00:15:31,514 –> 00:15:32,889
    I was taIking to him.

    00:21:49,058 –> 00:21:51,017
    The forks are out,
    the pie’s getting smaIIer.

    00:21:52,228 –> 00:21:54,688
    Too many cops
    with their hands
    in the pie, Dennis?

    00:22:30,099 –> 00:22:33,518
    WeII, weIcome to
    the recession, boys.

    00:22:33,602 –> 00:22:36,438
    You shouId be gratefuI
    you stiII have
    a product peopIe want.

    00:24:26,507 –> 00:24:30,260
    You don’t change the worId.
    It changes you.

    00:25:28,485 –> 00:25:30,778
    Our distribution
    is internationaI.

    00:25:31,280 –> 00:25:34,490
    We’ll give you protection
    on a scale you’re
    not accustomed to.

    00:25:35,034 –> 00:25:38,703
    We provide low-cost insurance,
    low-interest start-up loans,

    00:25:38,871 –> 00:25:42,540
    money-laundering services
    to all your producers
    and distributors.

    00:25:42,708 –> 00:25:45,668
    You see, we Iease
    a good amount of land
    in this country.

    00:25:45,836 –> 00:25:49,631
    Some of it,
    Indian tribaI Iand,
    not subject to federal law.

    00:25:49,798 –> 00:25:52,884
    We have the structure
    and Iabor force

    00:25:53,052 –> 00:25:56,679
    to cuItivate
    thousands and thousands
    of acres aII at once.

    00:27:29,606 –> 00:27:31,899
    They can replace
    every man they lose,
    and we can’t.

    00:31:15,457 –> 00:31:17,124
    Indonesia.

    00:31:17,292 –> 00:31:19,418
    Where in Indonesia?
    Can’t say.

    00:32:21,481 –> 00:32:22,982
    Indonesia.

    00:32:23,150 –> 00:32:26,777
    I put a water system
    in this pretty IittIe viIIage,
    by a beach.

    00:32:27,779 –> 00:32:30,740
    And they’re
    the sweetest peopIe
    you’d ever meet.

    00:32:34,494 –> 00:32:35,911
    I think you’II Iove it.

    00:32:36,079 –> 00:32:37,079
    Me, too.

    00:32:51,136 –> 00:32:54,722
    Where in Indonesia?
    Isn’t it 1 0,000 isIands
    or something?

    00:40:07,363 –> 00:40:09,490
    When we get to Indonesia,

    00:40:40,063 –> 00:40:42,564
    I’ve got three months tops
    in Indonesia.

    00:40:47,278 –> 00:40:50,239
    OPHELIA: Living in
    a jungIe sounds great,

    00:40:50,406 –> 00:40:52,407
    but where’s
    the toiIet paper?

    00:40:52,534 –> 00:40:53,617
    (BOTH LAUGH)

    00:41:07,799 –> 00:41:13,053
    Let’s not go to Indonesia.
    Let’s just stay here forever.

    00:43:50,628 –> 00:43:53,088
    They’re Iike corporations.
    None of them Iast.

    00:50:11,008 –> 00:50:14,010
    We didn’t make you an offer
    to hear a counteroffer.

    00:50:14,303 –> 00:50:17,847
    We made you a deaI
    to which we
    expected compIiance.

    00:59:21,683 –> 00:59:24,685
    Savages don’t make deaIs, Ben.

    01:03:23,884 –> 01:03:27,428
    When HiIIary CIinton grows up,
    she wants to be EIena Sanchez.

    01:09:22,951 –> 01:09:26,036
    We’re smaII, compared to you.
    Grow up, motherfucker.

    01:12:38,312 –> 01:12:41,314
    Copy that, gentIemen.
    May AIIah be with you.

    01:26:33,563 –> 01:26:37,608
    If the mountain
    doesn’t come to Mohammed,
    Mohammed comes to CaIifornia.

    02:01:46,841 –> 02:01:50,469
    They want you to
    waIk through it cIean,
    but what’s cIean anymore?

    02:01:54,891 –> 02:01:57,559
    If you want to see
    the reaI crooks,
    the reaI pros,

    02:01:57,644 –> 02:01:59,561
    just turn on
    the fucking TV.

    02:02:03,066 –> 02:02:07,069
    We’ve made heroes of whores.
    A nation of whores.

    02:02:07,153 –> 02:02:09,947
    WaII Street. Washington.

    02:02:10,949 –> 02:02:14,117
    Those bastards make
    what I do out here
    Iook pathetic.

    02:13:21,535 –> 02:13:24,078
    OPHELIA: And oId Dennis,
    who couIdn’t Ieave town
    with his three miI

    02:13:24,288 –> 02:13:27,165
    had to horn in on the action.

    02:15:02,720 –> 02:15:04,804
    They say we’re in Africa

    02:15:06,640 –> 02:15:08,182
    off Kenya.

    02:15:09,518 –> 02:15:12,937
    Or some magic
    isIand in Indonesia.

    02:15:53,771 –> 02:15:56,147
    but l began to live again.


    The snapshots



































    by s3ra

     
  • Virtual Chitchatting 9:27 AM on 2012/12/03 Permalink  

    indonesia as the escapade from the baja cartel, the vicious mexican drug cartel and blake likely began to live again “like savages” in Indonesia

    by S3ra Sutan Rajo Ali
    Jakarta, 3 December 2012 03:24:37

    why do you think the united states invaded afghanistan? not the oil, but the best cannabis in the world.

    the script writer of the movie titled Savages knew how to sew the red yarns tying what really actually happened and happens in the world. what impressed me much is that they are very pleased and amazed with the sweetness of indonesian people. and blake lively still thinks indonesia as a jungle with no toilet paper. but blake lively claimed and admitted indonesia’s magic island or the voodoo island, shall i say?

    the script writer is also well informed about the sayings in islam, just like
    @01:12:38,312, May AIIah be with you.
    @01:26:33,563, If the mountain doesn’t come to Mohammed, Mohammed comes to CaIifornia.

    the script writer is also very well informed about the economics and politics. the highly legalised corrupted bureaucrates in each and every government institutions alike. the neo-libs have justified the existence of the political clowns to have been existing on tv.

    The screenplay was written by Shane Salerno, Winslow and Stone. The film was released on July 6, 2012 and on DVD and Blu-ray on November 13, 2012.

    a pity to john travolta’s downgrading lives, careers, and roles

    what do you know about hillary clinton? another savage. she is a savage. she is a slut loving sucking jewish cocks.


    The magnetic torrent for Savages (2012)

    Savages UNRATED (2012) 720p BrRip x264 – YIFY
    3 files, 1 GiB (1076818029 Bytes), 1097 seeders, 226 leechers
    2012-11-04 04:22:40 GMT, YIFY, green, VIP
    magnet:?xt=urn:btih:fd90a3ee246ea7dbfa9ae567c1184f4f8fbf64cb&dn=Savages+UNRATED+%282012%29+720p+BrRip+x264+-+YIFY&tr=udp%3A%2F%2Ftracker.openbittorrent.com%3A80&tr=udp%3A%2F%2Ftracker.publicbt.com%3A80&tr=udp%3A%2F%2Ftracker.istole.it%3A6969&tr=udp%3A%2F%2Ftracker.ccc.de%3A80

    http://thepiratebay.se/torrent/7790266/Savages_UNRATED_%282012%29_720p_BrRip_x264_-_YIFY

    FORMAT…………………..: MP4
    CODEC……………………: X264
    GENRE……………………: Crime
    FILE SIZE………………..: 1.00 GB
    RESOLUTION……………….: 1280*536
    FRAME RATE……………….: 23.976 fps
    LANGUAGE…………………: English
    SUBTITLES………………..: English
    RUNTIME………………….: 131 mins

    Entrepreneurs Ben, a peaceful and charitable marijuana producer, and friend Chon, a former Navy SEAL, run a lucrative, homegrown industry – raising some of the best weed ever developed. They also share a one-of-a-kind love with Ophelia. Life is idyllic in their Southern California town… until the Mexican Baja Cartel decides to move in and demands that the trio partners with them. When the merciless head of the BC, Elena and her enforcer, Lado, underestimate the unbreakable bond of the three friends, Ben and Chon – with the reluctant assistance of a dirty DEA agent – wage a seemingly unwinnable war against the cartel. And so begins a series of increasingly vicious ploys and maneuvers in a high stakes, savage battle of wills.


    The plot

    Best friends Chon (Taylor Kitsch) and Ben (Aaron Johnson) are marijuana growers living in Laguna Beach, California. Chon, a former Navy SEAL, smuggled the seeds for the plants out of Afghanistan. These seeds yielded a particularly potent strain of marijuana that soon developed a wide customer base and made Chon and Ben very wealthy. The two are in a polyamorous relationship with O (Blake Lively) as a girlfriend.

    While Ben is doing charity work overseas, Chon and O receive a video from cartel enforcer Lado (Benicio del Toro), a man they do not know. The video shows several severed heads and a chainsaw, leading them to worry about Ben, who they fear is one of the victims. However, Ben returns safely the next day, and Chon and Ben go to meet with the Mexican cartel. After refusing the cartel’s offer for a partnership, Chon and Ben make plans with O to leave and go to Indonesia for a year, not telling her that they are fleeing the cartel.

    Chon and Ben speak to corrupt DEA agent Dennis (John Travolta) who urges them to partner with the cartel. O, meanwhile, is kidnapped by Lado and several members of the cartel. Chon and Ben are notified of O’s kidnapping via a Skype call from cartel leader Elena (Salma Hayek), who threatens to harm O before again urging the two to partner with the cartel.

    Chon and Ben speak with Dennis about the situation, but the conversation turns sour, with Chon stabbing Dennis in the hand and punching him in the face. After Dennis angrily leaves, Chon and Ben decide to retaliate. With help from Chon’s Navy SEAL friends, the duo attacks a cartel truck, killing seven of Elena’s men. The duo decides to frame Alex (Demián Bichir) for the murders. With help from Dennis, they falsify the evidence and give it to Lado, who tortures the man before forcing Ben to immolate him. While being tortured, the man begs for his life “On the head of Magda”, revealing to Chon and Ben that Elena’s daughter is still alive.

    O has been kept in horrible living conditions while asking to speak to someone. Elena, feeling sorry for her, allows her to contact her mother. While in captivity and after drugging her, Lado rapes O and records it. Elena later brings her to her estate to have someone to talk to.

    Meanwhile, Ben and Chon bribe Dennis for information on Magda (Sandra Echeverria), ultimately paying him $3 million for the information and the name of his snitch in Elena’s cartel. After kidnapping Magda, Ben and Chon skype Elena once more, establishing that they are now in control. With Elena at their mercy, the two arrange a meeting, at which point both O and Magda will be released.

    The exchange is set to occur in the middle of the desert, with snipers from both sides prepared to fire. Elena requests to know the identity of the man who revealed the location of her daughter, and Chon reveals that it was Lado. Elena attempts to kill Lado, but he shoots her first. An intense shootout erupts, with Chon being shot several times. Lado is shot in the back by Ben, but manages to shoot Ben in the neck before being killed by O. With Ben mortally wounded, Chon injects him, himself, and O with a fatal overdose, so the three can die together.

    It is then revealed that this sequence is how O feared the events would transpire. In reality, Lado steals Elena’s car and drives off as DEA agents arrive, led by Dennis. Everyone at the meeting is arrested, but since Ben possesses incriminating information on Dennis, Dennis names Ben and Chon as his informants for the past six years, leading to them being released from jail. Ben, Chon and O leave the country together and live “like savages” in Indonesia.


    The production

    By August 2011, the film was shooting in the Pacific Palisades neighborhood of Los Angeles.The sex scenes were filmed during the first three days. The film entered post-production in October 2011.

    “We had two weeks rehearsal, so we talked about it until we were about to pass out. I think I had known Blake for three or four days, before we shot [those scenes]. That was the first week of shooting. It was just about trusting Blake and Oliver, like you do on any set. I was just glad it was over with, to be honest. It’s very awkward to do. It’s such a big part of Chon and who he is. That’s how you meet him, so it’s a pretty intense reveal, no pun intended. It’s all part of it, but I was glad it was in the first week.”

    — Kitsch on shooting sex scenes[4]


    The dialogues

    00:03:48,478 –> 00:03:51,647
    CaII me O.
    I was named after OpheIia,

    00:03:51,815 –> 00:03:55,401
    the bipolar
    basket-case in HamIet,
    who committed suicide.

    00:08:42,105 –> 00:08:44,690
    So where do you
    think the best cannabis
    in the worId comes from?

    00:08:46,735 –> 00:08:48,110
    Afghanistan.

    00:08:53,783 –> 00:08:57,036
    So, Chon, from the most
    dangerous ground in the world,

    00:08:57,204 –> 00:09:00,956
    smuggles back
    the finest seeds.

    00:09:06,588 –> 00:09:08,380
    lt grew.

    00:09:08,548 –> 00:09:10,507
    Within six years,
    they had a couple of farms

    00:09:10,592 –> 00:09:12,343
    and a great customer base.

    00:09:20,810 –> 00:09:23,938
    lt became urban legend.

    00:09:24,105 –> 00:09:25,481
    lf you ask any serious head

    00:09:25,649 –> 00:09:28,776
    where the best
    dope in the world
    in the 21 st century is,

    00:09:28,944 –> 00:09:32,947
    it’s not ThaiIand, Jamaica,
    and certainly not Mexico.

    00:09:40,664 –> 00:09:45,334
    lt’s right here
    in CaIifornia, USA.

    00:10:35,010 –> 00:10:39,888
    Fifteen miIIion
    satisfied customers
    can’t all be wrong.

    00:10:43,393 –> 00:10:45,686
    But the big money comes
    from shipping it out of state.

    00:10:47,689 –> 00:10:51,942
    At high prices,
    they get up to
    $6,000 a pound.

    00:15:26,843 –> 00:15:29,052
    CIose your Iegs,
    it’s showing.

    00:15:30,054 –> 00:15:31,346
    Sorry.

    00:15:31,514 –> 00:15:32,889
    I was taIking to him.

    00:21:49,058 –> 00:21:51,017
    The forks are out,
    the pie’s getting smaIIer.

    00:21:52,228 –> 00:21:54,688
    Too many cops
    with their hands
    in the pie, Dennis?

    00:22:30,099 –> 00:22:33,518
    WeII, weIcome to
    the recession, boys.

    00:22:33,602 –> 00:22:36,438
    You shouId be gratefuI
    you stiII have
    a product peopIe want.

    00:24:26,507 –> 00:24:30,260
    You don’t change the worId.
    It changes you.

    00:25:28,485 –> 00:25:30,778
    Our distribution
    is internationaI.

    00:25:31,280 –> 00:25:34,490
    We’ll give you protection
    on a scale you’re
    not accustomed to.

    00:25:35,034 –> 00:25:38,703
    We provide low-cost insurance,
    low-interest start-up loans,

    00:25:38,871 –> 00:25:42,540
    money-laundering services
    to all your producers
    and distributors.

    00:25:42,708 –> 00:25:45,668
    You see, we Iease
    a good amount of land
    in this country.

    00:25:45,836 –> 00:25:49,631
    Some of it,
    Indian tribaI Iand,
    not subject to federal law.

    00:25:49,798 –> 00:25:52,884
    We have the structure
    and Iabor force

    00:25:53,052 –> 00:25:56,679
    to cuItivate
    thousands and thousands
    of acres aII at once.

    00:27:29,606 –> 00:27:31,899
    They can replace
    every man they lose,
    and we can’t.

    00:31:15,457 –> 00:31:17,124
    Indonesia.

    00:31:17,292 –> 00:31:19,418
    Where in Indonesia?
    Can’t say.

    00:32:21,481 –> 00:32:22,982
    Indonesia.

    00:32:23,150 –> 00:32:26,777
    I put a water system
    in this pretty IittIe viIIage,
    by a beach.

    00:32:27,779 –> 00:32:30,740
    And they’re
    the sweetest peopIe
    you’d ever meet.

    00:32:34,494 –> 00:32:35,911
    I think you’II Iove it.

    00:32:36,079 –> 00:32:37,079
    Me, too.

    00:32:51,136 –> 00:32:54,722
    Where in Indonesia?
    Isn’t it 1 0,000 isIands
    or something?

    00:40:07,363 –> 00:40:09,490
    When we get to Indonesia,

    00:40:40,063 –> 00:40:42,564
    I’ve got three months tops
    in Indonesia.

    00:40:47,278 –> 00:40:50,239
    OPHELIA: Living in
    a jungIe sounds great,

    00:40:50,406 –> 00:40:52,407
    but where’s
    the toiIet paper?

    00:40:52,534 –> 00:40:53,617
    (BOTH LAUGH)

    00:41:07,799 –> 00:41:13,053
    Let’s not go to Indonesia.
    Let’s just stay here forever.

    00:43:50,628 –> 00:43:53,088
    They’re Iike corporations.
    None of them Iast.

    00:50:11,008 –> 00:50:14,010
    We didn’t make you an offer
    to hear a counteroffer.

    00:50:14,303 –> 00:50:17,847
    We made you a deaI
    to which we
    expected compIiance.

    00:59:21,683 –> 00:59:24,685
    Savages don’t make deaIs, Ben.

    01:03:23,884 –> 01:03:27,428
    When HiIIary CIinton grows up,
    she wants to be EIena Sanchez.

    01:09:22,951 –> 01:09:26,036
    We’re smaII, compared to you.
    Grow up, motherfucker.

    01:12:38,312 –> 01:12:41,314
    Copy that, gentIemen.
    May AIIah be with you.

    01:26:33,563 –> 01:26:37,608
    If the mountain
    doesn’t come to Mohammed,
    Mohammed comes to CaIifornia.

    02:01:46,841 –> 02:01:50,469
    They want you to
    waIk through it cIean,
    but what’s cIean anymore?

    02:01:54,891 –> 02:01:57,559
    If you want to see
    the reaI crooks,
    the reaI pros,

    02:01:57,644 –> 02:01:59,561
    just turn on
    the fucking TV.

    02:02:03,066 –> 02:02:07,069
    We’ve made heroes of whores.
    A nation of whores.

    02:02:07,153 –> 02:02:09,947
    WaII Street. Washington.

    02:02:10,949 –> 02:02:14,117
    Those bastards make
    what I do out here
    Iook pathetic.

    02:13:21,535 –> 02:13:24,078
    OPHELIA: And oId Dennis,
    who couIdn’t Ieave town
    with his three miI

    02:13:24,288 –> 02:13:27,165
    had to horn in on the action.

    02:15:02,720 –> 02:15:04,804
    They say we’re in Africa

    02:15:06,640 –> 02:15:08,182
    off Kenya.

    02:15:09,518 –> 02:15:12,937
    Or some magic
    isIand in Indonesia.

    02:15:53,771 –> 02:15:56,147
    but l began to live again.


    by s3ra

     
  • Virtual Chitchatting 9:45 AM on 2012/11/27 Permalink  

    Akal-akalan Bakrie menjatuhkan harga saham Bumi Resources demi mengemplang utang US$ 1,35 milyar 

    http://mayachitchatting.wordpress.com/2012/02/11/aksi-gali-lubang-tutup-lubang-ala-bakrie/

    Akal-akalan Bakrie menjatuhkan harga saham Bumi Resources demi mengemplang utang US$ 1,35 milyar

    oleh Sando Sasako
    Lead Consultant
    Advanced Advocacy Plus

    Jakarta, 27 November 2012 03:05:56

    Analis pasar modal di Indonesia seharusnya sudah tahu bahwa saham Bumi Resources merupakan saham yang paling sering digoreng, penuh gosip murahan. Harga saham Bumi Resources tidak ubahnya roller coaster yang sebentar naik, sebentar turun, layaknya pemain akrobat. Sebagai konsekuensinya, para investor tidak bisa mengandalkan saham Bumi Resources sebagai alat investasi jangka panjang.

    Hal ini disadari Vallar dan berbagai investor dunia lainnya yang terkecoh ulah Bakrie bersaudara. This is insane. I bought the stocks with expensive price. How can I sell it with cheaper price? I cannot book my investments in Bumi Resources with lower rates of return each in every period of accounting reports. Dasar cakil.

    1. 20090924, CIC Bets Big on Resources. 2
    2. 200912080927, Mengurai Skema Ekspansi dan Utang Maha Besar BUMI 3
    3. 20110129, Follow the Cash. 7
    4. 20110429, 1Q11 earnings underway: PTBA, INDF, APLN winners – JP Morgan. 10
    5. 201106101020, Bakrie & Brothers Steps Up Overhaul 11
    6. 20111017, Bumi plc’s US$2bn acquisition of BRM called off 13
    7. 20120124, Coal Industry Losing Steam.. 13
    8. 201202032050, Bakrie vehicle moves to oust Rothschild from Bumi 14
    9. 201202051912, Call for Bumi vote on Rothschild criticised. 16
    10. 20120206, Bakrie family seeking to oust Rothschild from Bumi board. 17
    11. 201202142012, Bumi investors reach EGM accord. 18
    12. 20120215, Bakries: Rothschild can stay on Bumi board. 19
    13. 201203191210, Head of Bumi Investor Wants to Restructure Firm.. 20
    14. 201204112318, Some Investors See Makings of Coal-Share Resurgence. 20
    15. 201204231911, Investor concerns about the use of leverage in the Bakrie Group. 22
    16. 201209241633, Bumi Plc Temukan Indikasi Penyimpangan Dana, Saham Bumi Resources Anjlok. 22
    17. 201209251035, Ari Hudaya Mundur dari BUMI Plc Pasca Dugaan Penyimpangan Dana. 23
    18. 20121102, Rothschild Forming Consortium With Prabowo to Counter Bakrie Buyout 24
    19. 20121105, Bumi Says Receives Rothschild Counter Proposal 26
    20. 201211060837, Investigasi Bumi Plc Hambat Refinancing Utang Bumi Resources. 26
    21. 201211070907, ‘Dijepit’ Prabowo-Rothschild, Saham Bakrie Keok. 27
    22. 201211080625, Kisruh Bakrie-Rothschild, Saham BUMI Takkan Melejit 28
    23. 201211091935, Rotchchild Tunjuk Macfarlanes, BUMI Minta Diaudit PN Jaksel 29
    24. 201211131053, Rothschild Kibarkan Bendera Perang ke Bakrie. 30
    25. 201211171510, 12 Desember, Bumi Plc Bahas Lagi Sengketa Bakrie-Rothschild. 31
    26. 201211171605, Bumi Plc Putuskan Penawaran Bakrie Tahun Depan. 32
    27. 201211201649, Bumi Plc Belum Konfirmasi BEI 33
    28. 201211212328, Rothschild backed by Friedland on Bumi 34
    29. 20121122, Robert Friedland joins Rothschild-Bakrie fight over Indonesia coal mines. 35
    30. 201211230938, Friedland backs Rothschild over Bumi: Sources. 36
    31. 201211231147, Jika Bakrie Terdepak, Rothschild Guyur Bumi USD270 Juta. 36
    32. 201211231345, Rothschild Raises $270 Million for Bumi Severance Proposal 38
    33. 201211261202, Menakar Kekuatan Rothschild, si Musuh Bakrie  40

    http://online.wsj.com/article/SB125373234125034921.html

    20090924, CIC Bets Big on Resources

    By RICK CAREW and TOM WRIGHT, September 24, 2009

    HONG KONG — China’s sovereign-wealth fund is fast becoming a major backer of natural-resources companies world-wide, as the $300 billion fund seeks to buy into a global rebound. China Investment Corp. on Wednesday ramped up its position in the commodities area for the second time in two days with a $1.9 billion debt-like investment in PT Bumi Resources of Indonesia, the country’s largest producer of thermal coal, or coal used to generate electricity.

    The day before, CIC agreed to buy a 15% stake in Hong Kong-based commodities trader Noble Group Ltd. for $850 million. Together with a $1.5 billion investment in Canadian miner Teck Resources Ltd. in early July, CIC has agreed in the past three months to invest at least $4.25 billion in resource deals, a sign of how energy, metals and agricultural commodities are proving increasingly central to the Chinese state fund’s investment strategy.

    CIC’s willingness to dole out cash contrasts with other sovereign-wealth funds, for example those in the Middle East and Singapore, which remain cautious after having seen their portfolios hurt in the financial crisis. It also brings life to the mergers-and-acquisitions market, which until lately had been dormant as credit dried up.

    CIC’s resource plays dovetail with China’s long-term strategic interest in securing access to natural resources. Chinese officials have pushed state-owned firms to buy overseas mining and oil assets this year as commodity prices dropped. CIC has avoided taking majority stakes in companies, sticking to minority holdings.

    CIC’s willingness to dole out cash contrasts with other sovereign-wealth funds, for example those in the Middle East and Singapore, which remain cautious after having seen their portfolios hurt in the financial crisis. Above, the New Poly Plaza in Beijing, where the headquarters of CIC is located.

    In the energy patch, CIC and other China-based investors are currently very sought-after bidders for energy properties as other suitors have stayed on the sidelines. After a pummeling last year, commodity prices along with stock prices of commodity producers have bounced back in recent months. Still, they are far from their highs last year. Many energy companies and energy private-equity firms remain eager to unload some assets for cash.

    The CIC moves also fit broadly into the fund’s efforts to capture the potential upside from a global economic rebound. “As the market turns around, there are lots of opportunities for CIC and other sovereign-wealth funds,” CIC’s supervisory board chairman, Jin Liqun, told The Wall Street Journal in an interview last month.

    “‘Cash is king’ will turn into ‘capital is king,'” though he noted that “as a long-term investor, CIC will continue to keep a balanced portfolio.” CIC has made other bets beyond resources that seem leveraged to a global rebound, particularly in the real-estate sector. In recent days, it has taken small stakes in Chinese real-estate developers.

    It also has helped bail out the company behind London’s Canary Wharf property development, and bought into an Australian real-estate trust. China analysts at J.P. Morgan Chase & Co. estimate CIC could put as much as $50 billion into deals this year. The spate of activity signals renewed confidence at CIC, which endured criticism over poor timing on its high-profile purchase of stakes in Blackstone Group LP and Morgan Stanley in 2007.

    Chairman Lou Jiwei said recently China’s government might add to the $200 billion it gave CIC to manage if it posts good returns. Last year, the sovereign-wealth fund lost just 2.1% on its global portfolio by staying mostly in cash, outperforming many big sovereign-wealth and pension funds.

    China’s positive experience with CIC is encouraging it to propose a sovereign-wealth fund to solve global imbalances. Chinese central bank vice governor Hu Xiaolian said in a paper released Tuesday that the Group of 20 should consider setting up a “supra-sovereign-wealth investment fund” that would invest some of the surplus in poor countries “so that these countries can serve as new engines in global recovery and growth.”

    Indonesia is the world’s largest exporter of thermal coal, which is generally used for generating power, and Bumi Resources is one of the biggest producers with two highly-productive mines on Borneo island. The investment in Indonesia’s Bumi Resources will offer CIC a 12% annual cash coupon with an internal rate of return of 19%, Bumi said in a statement. The debt-like instrument will have a six-year term, Bumi said.

    Earlier this year, a spokesman for Bakrie & Brothers, an Indonesian company that holds a large stake in Bumi Resources, said the company was considering a strategic tie-up with Chinese investors who were looking to secure long-term supplies of coal for generating electricity.

    A spokesman for Bakrie & Brothers wasn’t immediately reached for comment Wednesday. With the Noble deal, CIC will hold nearly 15% of the firm, a commodities company with assets ranging from Brazilian sugar mills to Australian iron ore to oilseed-processing facilities in China and India. CIC will own about 17% of Teck Resources, which produces copper, metallurgical coal and zinc, among other things.

    —Ann Davis and Carolyn Cui contributed to this article.
    Write to Rick Carew at rick.carew@wsj.com and Tom Wright at tom.wright@wsj.com
    Printed in The Wall Street Journal, page C1
    Copyright 2012 Dow Jones & Company, Inc. All Rights Reserved

    This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit


    http://www.detikfinance.com/read/2009/12/08/092745/1255828/479/mengurai-skema-ekspansi-dan-utang-maha-besar-bumi

    200912080927, Mengurai Skema Ekspansi dan Utang Maha Besar BUMI

    Indro Bagus SU – detikFinance, Selasa, 08/12/2009 09:27 WIB

    Jakarta – Tak satu saham pun yang menjadi sorotan publik dengan sangat kritis di jagad pasar modal Indonesia layaknya saham PT Bumi Resources Tbk (BUMI), setidaknya untuk saat ini. Saking kritisnya, terkadang persepsi ikutan disangka fakta. Ya, badai rumor tak henti-hentinya menerpa bangunan kokoh perusahaan milik konglomerat yang pernah menduduki peringkat orang terkaya di Indonesia, Aburizal Bakrie.

    PT Bakrie & Brothers Tbk (BNBR) mengklaim masih memegang 16% saham BUMI. Namun data PT Kustodian Sentral Efek Indonesia (KSEI) mencatat tidak ada satu pun perusahaan atau investor yang memiliki saham BUMI lebih dari 5%. Terlepas dari itu, sulit melepaskan BUMI dari asosiasi dengan grup Bakrie.

    Dan mungkin karena itu pula rumor dan spekulasi seolah menjadi teman hidup yang paling dekat dengan BUMI. Sebab, induknya pun tak luput dari serangan rumor. Tapi mau bagaimana lagi, langkah dan strategi bisnis grup Bakrie memang kerap mengundang kontroversi.

    Polah tingkah ekstrem nan berani grup Bakrie pernah dituding menjadi salah satu penyebab kejatuhan pasar modal tahun 2008. Namun kesuksesan grup Bakrie dalam mencetak uang juga berangkat dari strategi yang sama.

    Begitu pula dengan BUMI. Perusahaan batubara terbesar di Indonesia sekaligus eksportir batubara terbesar di dunia ini, kini tengah menghadapi segudang pertanyaan dan spekulasi pelaku pasar lantaran aksi utang besar hingga US$ 3,325 miliar yang mungkin bisa bertambah lagi ke depannya.

    BUMI dituding melakukan aksi nekat dengan utang tersebut. Pelaku pasar kemudian berbicara posisi beban utang BUMI, dampaknya pada kinerja jangka pendek perseroan, sampai-sampai mengkait-kaitkannya dengan dana kampanye politik Aburizal Bakrie.

    “Banyak orang tidak mengerti kemudian berspekulasi sendiri tentang apa yang sedang kami lakukan. Bahkan sampai menuding pinjaman ini untuk dana politik. Itu sangat tidak logis,” tegas SVP Investor Relations BUMI, Dileep Srivastava dalam bincang-bincangnya dengan detikFinance, Senin (7/12/2009).

    Menurut Dileep, spekulasi dan rumor yang berkembang di kalangan pelaku pasar tidak memiliki dasar yang jelas. Apalagi soal posisi beban utang BUMI seperti sering dibahas pelaku pasar. “Orang cenderung melihat dampak yang terjadi dalam waktu jangka pendek, ketimbang melihat apa yang akan kami raih dan keuntungan yang akan kami berikan pada pemegang saham kami di masa mendatang,” jelas Dileep.

    Dileep mengakui kalau skema ekspansi yang sedang dipersiapkan BUMI boleh tergolong ekstrem dan kelewat berani. Namun menurutnya, BUMI melakukan itu bukan tanpa perhitungan. “Situasi ini mirip ketika kami memutuskan mengambil alih KPC (PT Kaltim Prima Coal) dan Arutmin (PT Arutmin Indonesia). Ketika itu banyak yang mengatakan kami terlalu nekat melakukan ekspansi,” ujar Dileep.

    BUMI mengambil alih 80% saham Arutmin dari BHP Biliton pada 2001. Sisanya sebesar 20% yang menjadi milik PT Ekakarsa Yasakarya Indonesia yang juga merupakan perusahaan grup keluarga Bakrie dituntaskan pada tahun 2004. KPC sebelumnya milik British Petroleum dan Rio Tinto dengan kepemilikan masing-masing 50%. BUMI mengambil alih tuntas KPC pada tahun 2003.

    BUMI yang saat itu masih merupakan perusahaan energi kecil-kecilan, sebagai wujud perubahan usaha dari usaha sebelumnya di sektor pariwisata yang mengelola bisnis hotel di Uzbekistan, kemudian mendapat reaksi dari pelaku pasar. “Di tengah kondisi ekonomi saat itu, dimana perbankan sulit mengucurkan pinjaman kecuali dengan bunga tinggi, orang-orang mempertanyakan alasan kami mengambil pinjaman berbunga tinggi dan bernilai besar. Nilainya total sekitar US$ 1,1 miliar,” ujar Dileep.

    Dengan pinjaman sebesar itu, tentu tak sedikit pihak yang lantas meragukan apakah manajemen BUMI mampu terus tumbuh dengan beban utang dan beban bunga yang harus ditanggung. “Hasilnya, semua orang bisa membuktikan. Pada tahun 2007-2008, kami melunasi seluruh utang US$ 1,1 miliar dan BUMI menjadi perusahaan besar dengan zero debt (nihil utang), hanya dengan melepas 30% saham KPC dan Arutmin kepada Tata,” jelasnya.

    “Anda investasi miliaran dolar dan seluruhnya kembali hanya dalam waktu 4 tahun. Adakah perusahaan lain yang mampu melakukan ini selain BUMI?” imbuhnya. Sikap optimistis Dileep sebetulnya beralasan. Dengan investasi sebesar US$ 1,1 miliar yang orang bilang nekat, BUMI berhasil melunasi seluruhnya sekaligus mencetak EBITDA (laba sebelum bunga, pajak, demortisasi dan amortisasi) tertinggi perseroan sepanjang sejarah pada tahun 2008.

    “BUMI melunasi seluruh utang US$ 1,1 miliar pada tahun 2008, bersamaan dengan peningkatan produksi hingga 2 kali lipat di 2008. Dan karena itu, kami pun mencetak EBITDA tertinggi yang pernah diraih pada tahun 2008,” ujarnya. Produksi batubara BUMI sebesar 40 juta ton di 2003. Pada tahun 2008, produksi batubara BUMI naik menjadi 52,8 juta ton.

    Pendapatan BUMI tahun 2004 sebesar Rp 9,811 triliun. Pada tahun 2008, pendapatan BUMI mendekati US$ 4 miliar (hampir Rp 40 triliun). Laba bersih BUMI tahun 2004 sebesar Rp 1,21 triliun. Pada tahun 2008, laba bersih BUMI meningkat drastis menjadi US$ 654 juta (sekitar Rp 6,5 triliun).

    Seluk-Beluk Maha Utang US$ 3,325 Miliar

    Sukses dari akuisisi KPC dan Arutmin, BUMI kini sedang berencana ekspasi besar-besaran. Sejak periode Agustus hingga Desember 2009, BUMI meraih pendanaan raksasa dengan total nilai mencapai US$ 3,325 miliar.

    Berikut daftar pendanaan eksternal yang diperoleh BUMI:

    1. Pada 5 Agustus 2009, BUMI melalui Enercoal Resources Pte Ltd menerbitkan obligasi konversi senilai US$ 375 juta. Obligasi konversi ini berjangka waktu 5 tahun dengan kupon bunga tetap sebesar 9,25%. BUMI memberikan opsi pelunasan tunai atas obligasi konversi ini saat jatuh tempo di 2014.
    2. Pada September 2009, BUMI melalui Bumi Netherlands BV meraih pinjaman raksasa dari China Investment Corporation (CIC) senilai US$ 1,9 miliar. Pinjaman ini terbagi ke dalam 3 struktur yakni pinjaman pertama sebesar US$ 600 juta berjangka waktu 4 tahun, pinjaman kedua US$ 600 juta berjangka waktu 5 tahun dan pinjaman ketiga US$ 700 juta berjangka waktu 6 tahun. Tiga pinjaman ini berkupon bunga 12% setahun dengan penambahan Internal Rate of Return (IRR) sebesar 7% saat masing-masing pinjaman ini jatuh tempo.
    3. Pada 13 November 2009, BUMI menerbitkan obligasi konvensional senilai US$ 300 juta. Obligasi berjangka waktu 7 tahun ini memberikan kupon bunga 12% per tahun.
    4. Pada 25 November 2009, BUMI melalui Enercoal, lagi-lagi mengeluarkan obligasi konversi senilai US$ 300 juta. Obligasi konversi ini berjangka waktu 7 tahun dengan kupon bunga 5%.
    5. BUMI juga memperoleh fasilitas pinjaman senilai US$ 300 juta dari Credit Suisse.
    6. Teranyar, BUMI meraih pinjaman jangka pendek 6 bulan dari JP Morgan senilai US$ 150 juta pada 7 Desember 2009.

    Rincian penggunaan dana tersebut sebagai berikut:

    1. Investasi dan akuisisi senilai US$ 1,419 miliar.
    2. Pembiayaan kembali utang (refinancing) senilai US$ 1,3 miliar.
    3. Belanja modal (capital expenditure/capex) senilai US$ 314 juta.
    4. Equity swap senilai US$ 240 juta.
    5. Cap called option atas obligasi konversi senilai US$ 52 juta.

    Menurut Dileep, BUMI sebenarnya bisa saja tidak melakukan refinancing atas utang-utangnya senilai US$ 1,3 miliar karena perseroan masih memiliki kas internal sebesar US$ 1 miliar. “Kita punya pinjaman sebesar US$ 1,2-1,3 miliar yang akan jatuh tempo di 2009, 2010 dan 2011. Kas internal kita mencukupi untuk melunasinya, saat ini ada sekitar US$ 1 miliar,” ujarnya.

    Skema Ekspansi Organik BUMI

    Dileep mengatakan, jika perseroan tidak meraih pendanaan baru dengan jatuh tempo lebih panjang ketimbang pinjaman yang akan jatuh tempo di 2009-2011, maka kas internal tersebut tidak bisa digunakan untuk pengembangan proyek. “Dengan adanya pendanaan baru tersebut, yang mana pembayarannya baru akan dimulai pada 2013, kami memiliki keleluasaan dalam menggunakan kas internal kami. Dana tersebut akan digunakan untuk pengembangan proyek Herald, Gorontalo, Citra Palu, Mauritania, Fajar Bumi Sakti (FBS) dan Pendopo,” ujar Dileep.

    Berikut skema pengembangan proyek tersebut:

    1. Herald Resources Ltd (lead dan zinc) sebesar US$ 211 juta. Jadwal operasi pada 2011. Target peningkatan EBITDA sebesar US$ 150 juta per tahun.
    2. Gorontalo (emas) dan Citra Palu (tembaga) sebesar US$ 500 juta. Jadwal operasi pada 2013. Target peningkatan EBITDA sebesar US$ 900 juta per tahun.
    3. Mauritania (bijih besi) sebesar US$ 300 juta. Operasi dijadwalkan 2013. Target peningkatan EBITDA sebesar US$ 250 juta per tahun.
    4. FBS dan Pendopo (batubara) sebesar US$ 150 juta. Jadwal operasi pada 2011-2013. Target peningkatan EBITDA sebesar US$ 100 juta per tahun.

    Total investasi pada 4 proyek ini mencapai US$ 1,161 miliar yang akan didanai dari kas internal BUMI yang telah leluasa untuk digunakan setelah dilakukan refinancing atas utang yang jatuh tempo 2009-2011. Selain itu, BUMI juga menargetkan produksi batubara KPC dan Arutmin sebesar 111 juta ton di 2012.

    Untuk itu, dua anak emas BUMI ini akan menganggarkan capex sebesar US$ 1,1 miliar. “KPC dan Arutmin mendanai peningkatan kapasitas produksi dari kas internal mereka sendiri. Jadi bukan berasal dari kas BUMI. Melalui peningkatan kapasitas menjadi 111 juta ton di 2012, EBITDA akan meningkat US$ 800 juta per tahun,” papar Dileep.

    Dengan demikian, total nilai investasi BUMI beserta KPC dan Arutmin mencapai US$ 2,261 miliar. Namun proyeksi peningkatan EBITDA dari seluruh pengembangan ini mencapai US$ 2,2 miliar per tahun, setimpal dengan dana yang harus dikucurkan. Berhubung pengembangan 4 proyek tersebut menggunakan kas internal BUMI serta capex KPC dan Arutmin yang berasal dari kas internal sendiri, maka BUMI kini masih memiliki dana akuisisi dan investasi sebesar US$ 1,419 miliar.

    “Sebesar US$ 500 juta digunakan untuk pelunasan seketika akuisisi Fajar Bumi Sakti, Pendopo dan Darma Henwa,” ujar Dileep. Meski Dileep tidak menyebutkan secara detil, namun setelah dikurangi US$ 500 juta tersebut, secara kasar BUMI kini masih memiliki dana segar untuk investasi dan akuisisi sebesar US$ 919 juta.

    Akuisisi Newmont

    Skema ekspansi selanjutnya adalah akuisisi Newmont. Dileep angkat bicara soal ini. “Sebagian besar sisa dana tersebut akan dikucurkan kepada PT Multi Daerah Bersaing (MDB) dalam bentuk pinjaman untuk mengakuisisi 24% saham Newmont,” ujar Dileep. MDB merupakan perusahaan patungan antara PT Multicapital (75%) dan pemerintah daerah Nusa Tenggara Barat (25%) dalam akuisisi 24% saham PT Newmont Nusa Tenggara.

    Multicapital merupakan anak usaha BUMI secara tidak langsung dengan kepemilikan 99%. Total dana yang harus dikeluarkan MDB untuk mengakuisisi 24% saham Newmont mencapai US$ 884 juta. BUMI telah mengucurkan pinjaman sebesar US$ 391 juta kepada MDB untuk pengambilalihan 10% saham Newmont.

    Pada akhir Desember 2009, BUMI akan kembali meminjamkan US$ 493 juta untuk akuisisi 14% saham Newmont sisanya. Mengenai laba yang akan diterima BUMI melalui akuisisi tidak langsung 24% saham Newmont ini belum dapat diperkirakan. Namun proyeksi saat ini, Newmont diperkirakan bakal membukukan laba bersih lebih dari US$ 600 juta pada 2009.

    “Saya tidak bisa menyebutkan berapa pemasukan yang akan diperoleh dari Newmont di masa mendatang. Namun anda menghitung sendiri berdasarkan proyeksi laba Newmont terhadap porsi kepemilikan kami di Newmont,” ujarnya. Berandai-andai seluruh dana akuisisi 24% saham Newmont sebesar US$ 884 juta telah dikucurkan, maka secara kasar sisa dana masih ada sekitar US$ 35 juta.

    Berau & BHP Biliton

    Skema ekspansi BUMI tak berhenti sampai Newmont. BUMI kini tengah merancang ekspansi ke sektor pemasaran batubara. Salah satu target awalnya adalah dengan ikutan memasarkan batubara yang diproduksi oleh PT Berau Coal yang baru saja diakuisisi oleh Recapital Advisors.

    “Kami akan mulai investasi dalam pemasaran batubara. Tujuannya agar membentuk posisi tawar terhadap pembentukan harga jual batubara di pasar. Pembicaraan sedang dilakukan dengan Recapital,” ujarnya. Dileep juga mengungkapkan perseroan sedang ikutan memberi penawaran terhadap rencana divestasi tambang batubara Coking.

    Sayangnya ia tidak menyebutkan namanya. Namun hampir dapat dipastikan, tambang yang dimaksud adalah konsesi Coking Coal milik BHP Biliton yang terletak di Maruwai, Kalimantan Timur. Dileep juga belum bisa menyebutkan dana yang disiapkan perseroann untuk keperluan itu. “Kalau memang diperlukan, kami bisa mencari pendanaan lagi di pasar,” ujarnya.

    Penerbitan Saham Baru

    Belakangan santer kabar yang mengatakan BUMI berencana melakukan penerbitan saham baru yang mengkait-kaitkan CIC bakal menjadi pembeli siaga (standby buyer) dengan tujuan menjadi pemegang saham BUMI. Dileep angkat bicara soal ini. Menurutnya, penerbitan saham baru memang salah satu opsi yang sedang dikaji perseroan.

    Mengenai CIC sebagai standby buyer, Dileep juga belum dapat memberikan kepastian. “Sesuai regulasi, perusahaan terbuka dimungkinkan untuk menerbitkan saham baru untuk mendapatkan pendanaan. Itu salah satu opsi yang juga kami kaji jika memang diperlukan. Namun mekanismenya seperti apa, belum difinalisasi,” ujarnya.

    Demikianlah kiranya skema ekspansi dan maha utang BUMI yang mengundang kontroversi itu. Meski banyak kalangan meragukan potensi keberhasilannya, namun BUMI mengaku optimistis jika seluruh rencana ini berhasil, maka mulai tahun 2013, BUMI akan mencatat kinerja keuangan yang mencengangkan.

    “Proyeksi kami, mulai tahun 2013 pendapatan akan berlipat ganda dari apa yang diraih pada 2008,” ujarnya. (dro/qom)


    http://online.barrons.com/article/SB50001424052970203876704576102160738698764.html

    20110129, Follow the Cash

    By ERIN E. ARVEDLUND  | MORE ARTICLES BY AUTHOR, Saturday, January 29, 2011

    Talking with Charles Clough, founder of Clough Capital Partners. Charles Clough is best known as Merrill Lynch’s long-time chief stock-market strategist whose bearishness in 2000 didn’t sit well with a brokerage firm that proclaimed itself “bullish on America.” Clough was right, of course; the dot-com-driven market soon failed spectacularly. His track record since parting ways with Merrill has been pretty good, too.

    Now in its 11th year, Boston-based Clough Capital Partners oversees $3.6 billion, including hedge funds, mutual funds and institutional accounts. His flagship hedge fund Clough Capital I’s cumulative return since its inception in 2000 totals 197%, compared with 12% for the Standard & Poor’s 500 benchmark; it’s up an average of 10.5% a year since its start, versus 1.1% for the S&P. The firm last year was one of Barron’s Top 100 Hedge Funds (“Thriving Survivors,” May 24, 2010).

    Clough, who tends to invest along broad themes, has been emphasizing the shares of companies generating high free-cash-flow yields, some of them running to the low- to mid-teens. Among his favorite sectors are energy, technology, auto-parts suppliers, and consumer-related industries selling in emerging markets.

    “The finance world is coming around to free-cash-flow models, which offer powerful support for equity prices,” Clough, 68 years old, tells Barron’s. “Ten years ago at the top of the dot-com bubble, public companies reported huge earnings, but they were hemorrhaging cash at a rate of $125 billion annually. Today U.S. companies are generating gross cash of $250 billion”—the most recent 2009 figures. With so much free cash flow, companies are better able to return money to shareholders via dividends or share buybacks. Free cash flow is a measure of profit that takes into account capital spending and other ongoing corporate costs. The yield divides the free cash flow per share by the share price.

    “A company can transfer that free cash flow to shareholders even without sales growth. That’s our theology!” jokes the former seminarian. Double-digit cash-flow yields look very attractive compared with 10-year Treasuries yielding roughly 3.5%.

    Microsoft (ticker: MSFT) is at the top of his long list of interesting holdings. He sees it producing 11% to 12% in annual free-cash-flow yield for the foreseeable future. The software giant’s shares fell in 2010, hitting the mid-20s last spring.

    “In 2011 we think it’s money in the bank. It’s my favorite stock right now,” he says. “It’s a startling opportunity, and the market hasn’t recognized it. Everyone likens it to a big yawn, but it’s still a growing company.” The software giant late Thursday reported a gain in fourth-quarter sales, but its earnings disappointed investors.

    Clough believes Microsoft should raise its dividend to a 4% annual yield from 2.6% and would still have lots of free cash flow left over. If its free-cash-flow yield keeps growing at current rates, the software giant “could be the ExxonMobil of Silicon Valley,” and Clough sees shares rising 30% from a recent $28.

    Another strong cash-flow generator is Avnet (AVT), an electronics distributor that’s growing more quickly. It’s benefiting from the rise of the smartphone. He bought the stock at 24, believing it could go to 50 within two years. The shares were recently at 35, and free-cash-flow yield is 11%.

    He’s also grown fonder of auto-parts suppliers, which are “generating a lot more cash now that the auto makers in this country are producing fewer cars but making more money.” Tenneco (TEN), for example, has a 10% free-cash-flow yield. If that continues, cash could become nearly 40% of its market capitalization in a few years. The company is also one of few with the technology that auto makers need to keep up with emissions regulations. Clough has a price target of 65.

    Clough has been moving out of natural gas, where there’s oversupply, and into oil, whose reserves are falling. He’s particularly enthused about deepwater equipment and drilling outfits. “New oil reserves are still years away from coming to the market, and most are currently under 15,000 feet of water,” he says.

    Meanwhile, crude-oil prices are marching steadily upward. “We invest according to two themes: integrated oil companies producing crude oil reserves,” like Occidental Petroleum (OXY), Hess (HES) and British Petroleum (BP), “and those with the technology to drill under all that water,” including Cameron (CAM) and National Oilwell Varco (NOV). “They have extraordinary technology, the type that would take you to the moon,” he says. He bought both BP and Anadarko Petroleum (APC) before their recent resurgence.

    The Wall Street veteran also runs a three-year-old, $40 million fund known as Clough Asia, which returned 14.6% in 2010, easily topping MSCI Asia’s 5.1% gain. The region, says Clough, is “the best 20-year demand story around” and accounts for about 20% of his firm’s overall assets.

    Clough’s Longs and Shorts

    Recent
    PICKS Ticker Price
    Microsoft MSFT $28.87
    Samsung 005930.Korea 994000 KRW
    Avnet AVT $35.24
    Cameron CAM 52.46
    Hess HES 79.25
    BP BP 46.68
    Anadarko Petroleum APC 75.36
    PT Bumi Resources BUMI.Indonesia 3025 IDR
    Crown Holdings CCK $33.79
    Man Wah PANS 1999.HK HK$12.90

    For-profit education companies
    Leveraged health-care roll-ups
    Source: Bloomberg

    “Our thesis is simple: There’s tremendous growth of the middle-class consumer in Asia,” he says. “To us, profits are migrating from the export sector, which is overdeveloped and overleveraged, to domestic consumption.” In countries like China, he prefers small- and mid-caps in areas like retailing, supermarkets, sportswear and furniture.

    One top pick is Man Wah (1999.Hong Kong). The company went public in April 2010, when Clough bought it at 7.50 Hong Kong dollars a share. It now trades at about HK$13 (US$1.67). Man Wah began as a sofa maker and now makes everything from La-Z-Boy-style chairs to furniture for export (Macy’s carries Man Wah’s recliners under the Cheers brand).

    Importantly though, the company holds 17% of the domestic furniture market. Man Wah reported HK$0.85 a share in 2010. Clough sees earnings of HK$1.20 this year. His approximate price target for the stock is HK$20 within two years.

    Other middle-class-consumer plays include China Construction Bank Corp. (0939.Hong Kong). Clough bought the shares at HK$0.93 in the fourth quarter, and believes they’ll rise to HK$1.20 a share in a year. “Everybody’s afraid of them right now, because the Chinese central bank is tightening, and there’s concern that some of the credit is not high quality,” Clough notes.

    “My answer to that is consumer lending in China is very profitable. The savings rate is 45%, so individuals don’t generally default on loans. And loans to governments are essentially all back-stopped by an implicit guarantee by the Chinese government.”

    Clough also holds Little Sheep Group (0968.Hong Kong), a chain of fast-food restaurants in China with total vertical integration, from farm to fork. They are “a little jewel of a company just getting established.” Little Sheep specializes in Mongolian-style hot-pot cuisine and also provides catering services.

    Two plays he likes outside China: Korean electronics giant Samsung (005930.Korea) and Indonesia’s PT Bumi Resources (BUMI.Indonesia), the country’s biggest coal miner. Clough won’t name individual shorts, but says he has bets against hospitals and nursing chains that are heavily indebted roll-up companies.

    “If they’ve used debt to create large rollups, they are the faulty business models in that group.” He recently covered a number of shorts in the hard-hit for-profit education segment, though he thinks the stocks are still vulnerable. His long-short ratio in the fund is roughly 3.5-to-1.

    Generally, Clough funds tend to short an entire industry. It’s all based on a theme.

    ERIN E. ARVEDLUND is a free-lance writer based in Philadelphia.
    E-mail: editors@barrons.com


    http://ayomainsaham.blogspot.com/2011/04/1q11-earnings-underway-ptba-indf-apln.ht

    20110429, 1Q11 earnings underway: PTBA, INDF, APLN winners – JP Morgan

    Jumat, 29 April 2011

    1Q11 results underway, plenty more to come over the next few days. Agung Podomoro Land (APLN), Indofood (INDF), and Perusahaan Tambang Batubara Bukit Asam (PTBA) seem to exceed market expectations. Watch out for Bumi Resources also; Stevanus Juanda revised up PxT to Rp4500 as te stock is off restricted list.

    Bank Central Asia results may trigger profit taking; over 20x P/E and 4.7x price-to-book is not making any sense unless the bank can grow EPS by 30% per year for the next 5 years (which I very much doubt). Results from smaller banks un-impressive so far (PNBN, BBTN), the exception being BBKP after rights issue.

    Astra International good results but cautious outlook on Q2 and Q3 may capped the upside potential. Could be time for mid and small caps that can show impressive Q1; watch out property and construction space.

    • Research call – Bank Central Asia (BBCA): 1Q results: Earnings Growth falters, could prompt a correction. BCA’s 1Q FY11 net profis came in at Rp2.02T, well below our Rp2.4T estimate. Net profit grew by 5.5% y/y, but was down 15% q/q. Revisions likely – biased towards the downside: 1Q net profit was just over 20% of FY11E consensus PAT, and we believe the direction of revisions is likely to be lower. Last rating is an O/W.

    My take – If consensus profit for FY11 converge to around Rp9trn, BBCA would trade on 20.8x P/E and 4.7x 12M forward PBV. The share price factors-in aggressive growth potential for BBCA that is unlikely to be met over the medium term. Sell.

    https://mm.jpmorgan.com/PubServlet?action=open&doc=GPS-585637-0.pdf

    • Research call – Bumi Resources (BUMI): Stevanus Juanda revised up PxT from Rp4000 to Rp4500, as the stock is no longer on a blackout for JPMorgan research. He raised FY11 EPS by 5.6%, previewing 1Q11 net income to come in at US$129mn or 33% yoy.

    My take – Steve may end-up revising his FY11 net profit forecast of US$516mn (consensus US$511mn) further upward post 1Q11 results and announcement of contracted selling price for year 2011, likely to come in May. Remains a conviction Buy for me.

    https://mm.jpmorgan.com/PubServlet?action=open&doc=GPS-585506-0.pdf

    • Research call – PTBA: Strong net income growth re-affirming FY11 estimate by the Street. 1Q11 net income came in at Rp761bn; up 108% Y/Y and 23% Q/Q. It accounts for 20% of JPM and consensus full year forecast of Rp3.8 trillion and Rp3.7 trillion.

    My take – PTBA recently signed price contract with PLN (as buyer) at Rp805k/ton, vs. realized ASP of Rp751k/ton in 1Q11 (+35% yoy). So the results is looking good versus consensus at 20% of full year. Cash cost per ton only rose 7% yoy, that was quite impressive. The stock has lagged the JCI by 8.7% ytd and by 12% on 12M basis. Could be a good candidate for portfolio rotation buying at 13.5x and 11.7x P/E for 2011-12.

    https://mm.jpmorgan.com/PubServlet?action=open&doc=GPS-585616-0.pdf

    • Research call – Astra International (ASII): Strong results, but will they translate into revisions in the wake of supply risks? Strong 1Q results, PAT up 43% y/y: Astra’s results were strong. Revenues grew by 30% y/y and net profit by 43% y/y to Rp4.3T (up 7.5% q/q), on healthy contributions from almost all businesses. 1Q profits were in range (3.5% below) of our Rp4.45T forecast, with the difference mostly explained by the earnings miss at Astra Agro.

    My take – I would agree with Aditya that at in the current environment, consensus may opt to hold back on raising estimates until there is more clarity on the magnitude of supply risks. In this situation Astra’s stock price could be range-bound in the near term, despite the supportive results. Hold.

    https://mm.jpmorgan.com/PubServlet?action=open&doc=GPS-585588-0.pdf

    • Research call – Astra Agro Lestari (AALI): AALI’s 1QPAT at Rp.653bn was well below our Rp.773bn estimate. Although revenues were in line, margins were well below estimates and resulted in the earnings miss. 1Q PAT was 25% of consensus FY11E estimates, and we think that with CPO prices easing revisions to consensus and JPM forecasts are likely to be biased to the downside.

    Costs higher – driven by fertilizer & newly mature acreage: We estimate that cash costs of nucleus CPO were about Rp 5,425/kg, up a substantial 28% y/y. AALI reclassified 16,700 ha of CPO plantations as mature in 1Q (a 11% growth in mature acreage q/q). This would have resulted in expensing of costs (as opposed to capitalizing of immature plantation expenses) – but with possible low yields from the newly mature plantations.

    My take – London Sumatera and IFAR looking like a better bet for me, judging from Indofood’s strong results released today.

    https://mm.jpmorgan.com/PubServlet?action=open&doc=GPS-585461-0.pdf


    http://online.wsj.com/article/SB10001424052702304259304576377204202624670.html

    201106101020, Bakrie & Brothers Steps Up Overhaul

    By ERIC BELLMAN, June 10, 2011, 10:20 a.m. ET

    JAKARTA—Beset with losses and high debt, PT Bakrie & Brothers—the holding company behind one of Indonesia’s largest conglomerates—is stepping up efforts to slash its borrowings and repair its tarnished reputation.

    Bakrie & Brothers is part of a sprawling group of companies controlled by the family of Aburizal Bakrie, one of Indonesia’s richest men. The companies—which have operations ranging from coal and cellphones—are ostensibly well-positioned to benefit from an increasingly affluent population in Indonesia, one of the world’s fastest-growing economies.

    But Bakrie & Brothers shares have been underperformers, down about 12% since the end of 2009 compared with a roughly 50% rise in the Jakarta stock market’s benchmark index. Bakrie & Brothers said Friday it swung to a 281.41 billion rupiah (about $33 million) loss in the first quarter compared with a year-ago profit of 104.09 billion rupiah, as it continues to face high interest and transaction costs.

    More broadly, Bakrie & Brothers and other group companies have faced criticism from analysts over their level of disclosure—an impediment to tapping capital and reaching deals needed to follow the Indonesian economy’s surge.

    Bakrie & Brothers executives said they have been trying to remedy that situation through what they call a “quasi-reorganization.” They say they have slashed debt and looked to take on more international partners. Bakrie & Brothers and other Bakrie companies have also opened the companies’ books to the rigors of auditing outside of Indonesia.

    “Through this quasi-reorganization we will become like a newborn baby,” said Bobby Gafur Umar, Bakrie & Brothers president director and chief executive officer, in an interview. On Friday, Bakrie & Brothers and other Bakrie group companies also ratcheted up their alliance with British banking dynasty scion Nathaniel Rothschild with an aim to streamlining Bakrie mining holdings.

    Vallar PLC, a London-traded company founded by Mr. Rothschild and partially controlled by Bakrie companies, reached a deal to acquire a 75% stake in Bumi Resources Minerals, another Bakrie company, and increase its ownership in parent Bumi Resources. Vallar in return will issue $2.07 billion in convertible bonds to Bumi Resources.

    “We’ve positioned ourselves to become a global player through Vallar,” Mr. Gafur Umar said. Since the beginning of the year, Bakrie & Brothers shares have risen about 17%. In addition to its stake in Vallar, Bakrie & Brothers has owns chunks of energy company PT Energy Mega Persada, property company PT Bakrieland Development, telecommunication company PT Bakrie Telecom and plantation company PT Bakrie Sumatra Plantation.

    The company hopes to slash its debt from close to 10 trillion rupiah as of the end of last year to about 7 trillion by the end of this year by swapping its debt for shares in its companies, said Eddy Soeparno, finance director and chief financial officer at Bakrie & Brothers.

    Bakrie & Brothers also said it now has more professional managers and committees to better monitor expansion plans and share its vision with investors, in an effort to quell worries that the company borrows too much in times of expansion. “There are a lot of fresh faces in the company,” said Mr. Soeparno. “We want to have better transparency and governance.”

    Last July, Indonesia’s stock exchange said it would fine Bakrie & Brothers and two other Bakrie companies 500 million rupiah each after they failed to explain discrepancies in their financial reports.

    Meanwhile, Mr. Soeparno said that he thinks the dollar must be near the floor of its trading range against the rupiah. He said that the dollar should trade between its current level of 8,500 rupiah and 9,000 rupiah over the next year as short-term investments are pulled out of Indonesia.

    “At this point the rupiah is slightly overvalued,” he said. “The dollars coming in [to Indonesia] is money that moves in and out easily. It is just hot money.”

    —Yayu Yuniar in Jakarta and Rhiannon Hoyle in London contributed to this article.


    http://old.fortress-capital-group.com/2011/10/page/22/

    http://old.fortress-capital-group.com/2011/10/17/bumi-plc’s-us2bn-acquisition-of-brm-called-off/

    20111017, Bumi plc’s US$2bn acquisition of BRM called off

    Monday, October 17, 2011

    Bumi plc has said its proposed acquisition of a 75% interest in PT Bumi Resources Minerals Tbk will not proceed “due to continuing market uncertainties”. The deal, valued at US$2.07 billion when announced in June, would have resulted in Bumi adding a portfolio of base metals, iron ore and precious metals to its existing coal investments.

    An 18% interest in the Batu Hijau open-pit copper-gold mine in Indonesia is a key asset in BRM’s portfolio, as is the Dairi zinc-lead deposit in Northern Sumatra. Vallar planned to issue a US$2.07 billion 2% convertible bond to Bumi Resources as payment for the assets. The bond was to have had a £15.88/share conversion price. In September the details were changed, including lowering the amount to US$2.007 billion and the conversion price to £11.80/share.


    http://online.wsj.com/article/SB10001424052970204624204577179170798754632.html

    20120124, Coal Industry Losing Steam

    By KRIS MAHER, The Gazette/Associated Press, January 24, 2012

    U.S. Firms Face Double Threat of Cheap Natural Gas, Weak European Demand. U.S. coal-mining companies are expected to provide cautious 2012 outlooks amid lower prices for coal used by electric utilities and steelmakers as they report results for the final quarter of last year. Above, a miner headed into the New Elk Coal Co.’s mine near Trinidad, Colo., last September.

    This year’s outlook is grim for the U.S coal industry, which after two years of rising profits has begun closing mines, signaling a new wave of production cutbacks and, possibly, another round of industry consolidation.

    The country’s biggest coal producers, which begin reporting fourth-quarter results on Tuesday with St. Louis-based Peabody Energy Corp., should provide insight into how bad this year could be. Most should meet Wall Street’s earnings expectations for the last quarter of 2011 on export gains over a year ago, while tempering investor expectations for 2012, say analysts.

    The two biggest threats facing U.S. coal companies are the low price of domestic natural gas, which is making thermal coal a less-attractive fuel for their utility-customers, and the shaky economic picture in Europe, which is damping exports of metallurgical coal.

    Demand among European steelmakers has fallen off, pushing down the benchmark price for the highest grades of coal by nearly 30% over the past year. Also damping prices is tougher federal emissions rules for U.S. utilities, resulting in more planned closures of coal-fired generating plants and eroding the market for thermal coal.

    The industry is “entering a year with an unusual amount of uncertainty,” Brett Harvey, chief executive of Pittsburgh-based Consol Energy Inc., said earlier this month.

    Rival Patriot Coal Corp., of St. Louis, idled five coal mines in southern West Virginia that produce metallurgical coal for the steel industry. Chief Executive Rick Whiting said demand for such coal had “trended steadily downward in recent weeks, most notably in the export market.” He expects to resume the mine’s production “as world economies return to normal growth rates.”

    More production cuts are expected in Appalachia, which has some of the country’s the highest mining costs. Lucas Pipes, a coal analyst with Brean Murray, Carret & Co., estimates that 20 million tons, or 11% of thermal coal production in the region which extends from Pennsylvania to Alabama, is currently unprofitable and will have to be trimmed this year. Market conditions could lead to “more rationalization and consolidation” across the industry, he predicted.

    The industry has seen a dramatic shift since early last year when the price for steelmaking coal on the global market hit a record, and companies were expanding production to try to capture growing demand. Several major coal acquisitions, including Alpha Natural Resources Inc.’s purchase of Massey Energy for $7.1 billion, were fueled in part by optimism about overseas demand.

    But as global demand cooled in recent months and abundant shale-gas reserves pushed natural gas prices lower, investors have punished coal stocks, pushing many down more than 50% from mid-year highs. The deferral of a set of new emissions guidelines in December failed to brighten the outlook, in part because utilities had sizable coal inventories on hand.

    A risk for Peabody Energy of St. Louis, the nation’s biggest coal company by production, is the drop-off in thermal coal pricing across all U.S. regions, say analysts. But those analysts expect any hit to earnings there to be offset by its operations in Australia where the company has been expanding aggressively.

    “Earnings themselves don’t look too bad,” said Brean Murray’s Mr. Pipes. He expects a 6% sequential increase in fourth-quarter exports of metallurgical coal, solid thermal coal production and sees most companies hitting their sales targets for the quarter. “Investors are more concerned about the outlook for the rest of the year,” he said.

    Meanwhile, coal’s prospects over the longer-term look brighter. BP PLC forecasts that coal usage globally will grow through 2020, mostly driven by China, before leveling off. By 2030, coal will account for 27.7% of world energy consumption, ahead of oil at 27.2% and natural gas at 25.9%, and far outpacing renewables at 6.3%, the company said in a recent report.

    Some also argue that utilities will favor the reliability of coal over natural gas, which historically has been more volatile in terms of supply and price. “I wouldn’t be surprised if we’re still using 900 million tons of thermal coal by 2020,” said Paul Forward, an analyst at Stifel, Nicolaus & Co. who forecasts total U.S. demand for such coal of 930 million tons this year.

    Consol Energy, whose underground mines tend to be more automated and lower-cost than many competitors, is maintaining its 2012 production guidance of between 59.5 million tons and 61.5 million tons. It plans to spend $200 million this year at a Virginia mine to boost production by five million tons of crossover coal, which has properties making it suitable for both steelmakers and utilities.

    Write to Kris Maher at kris.maher@wsj.com


    http://webcache.googleusercontent.com/search?hl=id&biw=&bih=&q=cache:LLFt38EdxXgJ:http://www.ft.com/cms/s/0/5cba4f8a-4e92-11e1-8670-00144feabdc0.html%2Bhttp://www.ft.com/intl/cms/s/0/5cba4f8a-4e92-11e1-8670-00144feabdc0.html%23axzz1lbv6TlTC&gbv=2&gs_l=heirloom-hp.3…1763.1763.0.2876.1.1.0.0.0.0.141.141.0j1.1.0…0.0…1c.1.xVodMPMSt-4&ct=clnk

    http://www.ft.com/cms/s/0/5cba4f8a-4e92-11e1-8670-00144feabdc0.html

    201202032050, Bakrie vehicle moves to oust Rothschild from Bumi

    By Guy Chazan, February 3, 2012 8:50 pm

    Indonesia’s Bakrie family and their partner, the businessman Samin Tan, is seeking to remove Nat Rothschild and other directors from the board of London-listed coal miner Bumi. The dramatic move is a setback for the UK financier, who had pledged to clean up corporate governance at Bumi. Shares in Bumi fell 4.5 per cent to 850p in London trading, the its biggest one-day decline in three months.

    In a statement, the Bakrie family and Mr Tan, who together control a 29.9 per cent voting stake in Bumi, said they were seeking greater representation on the board and demanded a shareholder meeting to replace Mr Rothschild and four other directors. Mr Rothschild, through a spokesman, declined to comment.

    Bakrie Group, the Bakrie family’s coal-to-plantations conglomerate, was forced to sell a stake in Bumi last November to coal miner PT Borneo Lumbung Energi, which is backed by Mr Tan, in a $1bn deal. That helped the Bakries avoid default on a $1.35bn loan.

    Bumi was launched as a pairing of the Rothschild name and capital and the Bakrie family’s assets. It had its roots in Vallar, a cash shell Mr Rothschild launched to fund acquisitions in the mining industry and which raised $1.1bn in its 2010 initial public offering. Vallar bought into the Bakries’ Indonesian coal miner, PT Bumi Resources, through a reverse takeover in November 2010 and was renamed Bumi plc.

    The use of cash shells such as Vallar has proved controversial. Critics say they provide a back door to the London Stock Exchange for emerging-market groups that might otherwise fail to comply with listing rules. In their announcement, the Bakries and Mr Tan demanded the replacement of Ari Hudaya, chief executive of both PT Bumi Resources and Bumi, by Nalinkant Amratlat Rathod, a close associate of the Bakrie family.

    They also called for Mr Tan and Indra Bakrie (pictured left), who is regarded as the leader of the family conglomerate, to be appointed as co-chairmen of the company and for the removal of Andrew Beckham, the chief financial officer, and James Campbell, one of Mr Rothschild’s first partners in Vallar and a former executive at Anglo American.

    Under their proposals, the chief executive and chief financial officer would be based in London, a move many investors have been calling for. In spite of Bumi’s successful flotation last year, tensions gradually rose between Mr Rothschild and the Bakrie family, who remained Bumi’s largest shareholders.

    In November Mr Rothschild, who owns just under 12 per cent of Bumi, called for a “radical cleaning up” of coproate governance at PT Bumi Resources, the Bumi affiliate. In a letter to Ari Hudaya, he said that he and the Bakries needed an “immediate transformation” of Mr Hudaya’s management.

    Prior to the announcement, relations between Mr. Rothschild and the Bakries appeared to have been on the mend. The financier met with Indra Bakrie in Singapore last month and the two agreed on a debt repayment schedule. Mr. Rothschild said afterwards that their partnership was back on track.

    The four would be replaced by Jean-Marc Mizrahi, Alexander Ramlie, Michael Lucente and Graham Holdaway.

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    201202051912, Call for Bumi vote on Rothschild criticised

    By Guy Chazan in London, February 5, 2012 7:12 pm

    Indonesian businessman Samin Tan should have approached the board of coal miner Bumi before demanding the removal of financier Nat Rothschild as a director, a person close to the company said. The person said Mr Tan’s proposals for a shake-up of Bumi’s management and board could have been addressed without the need for a shareholder vote.

    Last week, Mr Tan and the Bakrie family, who together control a 29.9 per cent voting stake in Bumi, called for an extraordinary general meeting to discuss proposals to remove Bumi’s chief executive, Ari Hudaya, its chief financial officer, Andrew Beckham, and three non-executive directors as well as Mr Rothschild, the company’s co-chairman.

    They also proposed that Mr Tan be appointed Bumi’s chairman alongside Indra Bakrie as co-chairman. Mr Tan is flying to London this week to try to convince shareholders to back him. The person close to Bumi said most of the proposals being made by Mr Tan and the Bakries – who own 47.6 per cent of Bumi’s shares – were uncontroversial.

    He said investors had long been critical of Mr Hudaya, who spends nearly all his time in Indonesia. But the idea of ousting Mr Rothschild, who owns almost 12 per cent of Bumi, from the board was more contentious, he added. He said it was “surprising” that Mr Tan and the Bakries had not first approached the board to discuss their demands.

    The remarks suggest that the Indonesians could face unexpected resistance in seeking to extend their representation on the Bumi board. A spokesman for the Bakries said they and Mr Tan had “followed proper process in calling for an EGM”.

    Bumi was created when Mr Rothschild, a scion of the legendary banking family, took stakes in two Indonesian coal mining companies called Berau and PT Bumi Resources, which is owned by the Bakrie family, and injected them into his London-listed cash shell, Vallar, in a reverse takeover.

    The idea was to give London investors a way into an attractive emerging market asset. In June last year, Vallar was renamed Bumi plc. But relations between the partners came under strain last October when the Bakrie family faced a debt crisis.

    In order to refinance a $1.35bn Credit Suisse-syndicated loan, they agreed to sell half their 48 per cent stake in Bumi to Mr Tan, an industrialist and business associate, whom Mr Rothschild had never met. The move relegated Mr Rothschild from third to fourth place on Bumi’s share register.

    Mr Rothschild later wrote a scathing letter to Mr Hudaya, chief executive of both Bumi and PT Bumi Resources, accusing him of mismanagement. The letter called for a cleaning up of PT Bumi’s corporate culture. The two sides appeared to have buried the hatchet after Mr Rothschild met Indra Bakrie in Singapore in December and the Bakries agreed on a debt repayment schedule for 2012.

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    20120206, Bakrie family seeking to oust Rothschild from Bumi board

    Monday, February 06, 2012

    Indonesia’s Bakrie family and their partner, businessman Samin Tan, have demanded a meeting of shareholders in coal mining firm Bumi to oust Nat Rothschild and four other directors, the Financial Times reported. The Bakries and Tan together control a 29.9% voting stake in the company.

    Rothschild, a member of the legendary banking family, owns nearly 12% of Bumi. The Bakrie Group, the family’s conglomerate, was forced to sell a stake in Bumi to Tan’s company last November to avoid default on a $1.35 billion loan, the report noted. Rothschild had never met Tan, a subsequent FT report noted.

    In November 2010 Vallar, a Rothschild shell company, bought into the Bakrie family’s PT Bumi Resources in a reverse takeover. Vallar was renamed Bumi plc, the article said. The Bakries and Tan want a Bakrie family associate, Nalinkant Amratlat Rathod, to replace Ari Hudaya, CEO of PT Bumi Resources and Bumi plc.

    They also want Tan and Indra Bakrie, leader of the family conglomerate, to be co-chairman of the company and are seeking the removal of the CFO and of a Rothschild associate, the article said. The FT report said that relations between the Bakries and Rothschild began to sour last year when Rothschild called for a “radical cleaning up” of corporate governance at PT Bumi Resources.

    The FT cited an anonymous source who said the most of the Bakries’ and Tan’s demands were uncontroversial and could have been approved without a shareholder vote, but the idea of ousting Rothschild from the board was more contentious. “The remarks suggest that the Indonesians could face unexpected resistance in seeking to extend their representation on the Bumi board,” the article said. (Sources: Financial Times, Feb. 4-5, 2012; Feb. 6, 2012.)


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    201202142012, Bumi investors reach EGM accord

    By Guy Chazan and Kate Burgess, February 14, 2012 8:12 pm

    The Indonesian investors in coal miner Bumi have said UK financier Nat Rothschild can stay on the company’s board, but only if he steps down as co-chairman and stops being a “disruptive influence” over his calls for a shake-up at PT Bumi Resources, a Bumi affiliate.

    The investors, the Bakrie family and their partner Samin Tan, announced on Tuesday that they had withdrawn their demand for an extraordinary general meeting to remove Mr Rothschild and other directors from the Bumi board. They say they will now pursue their proposed changes at a board meeting scheduled for March 26.

    Mr Tan will meet the financier for the first time later this week to discuss his future role in Bumi. “Nat has got to convince Samin that he can make a positive contribution and that he’s not going to be a disruptive influence,” said a person familiar with the matter. “Samin wants to know that Nat will play by the rules.”

    The person added Mr Rothschild’s future position on the board “depends on how he gets on with the senior shareholders”. A person close to the financier said: “[Mr Rothschild] is glad that the other side has listened to our argument that this dispute was damaging to the company. This is a matter for discussion at the board, not in public forums.”

    Bumi’s share price fell 16 per cent after Mr Tan and the Bakries, who together own a 30 per cent voting stake in Bumi, announced on February 3 that they were seeking to remove Mr Rothschild and several other directors from the Bumi board and shake up the company’s management.

    It was one of a string of recent setbacks for Mr Rothschild. Last Friday he lost a high-profile libel lawsuit against the publishers of the Daily Mail, as a High Court judge found he “had not been entirely candid” about the purpose of a visit to a Siberian aluminium smelter.

    Mr Rothschild introduced Bumi to the London market, attracting money into a cash shell into which the Bakries’ coal assets were then reversed. For many he was the public face of the company, but his relations with the Bakries soured last year after he called for a radical clean-up of PT Bumi Resources.

    Although many shareholders were critical of that intervention, they did not want to see Mr Rothschild booted off the board for fear it could herald a deterioration in Bumi’s corporate governance. “The important thing is that this is decided in private and Nat remains on the board, even if he is a non-executive director,” said a large UK-based shareholder in Bumi. “If that is acceptable to all parties, that is fine by us.”

    Senior independent directors Sir Julian Horn-Smith and Lord Renwick flew to Jakarta this month to meet Mr Tan and the Bakries and push for them to reconsider. “We have concluded that the best interests of Bumi Plc and its shareholders will be served by withdrawing our request for an EGM,” said Ken Allan, director of Borneo Bumi Energi & Metal Pte Ltd, the Bakries’ and Mr Tan’s investment vehicle.

    Mr Allan said Sir Julian and Lord Renwick supported the Indonesians’ proposals to nominate Mr Tan as Bumi’s chairman, Scott Merrilees as its chief financial officer and Nalin Rathod as its chief executive, but the nominations would be dealt with at a Bumi board meeting on March 26 instead of at an EGM.

    Meanwhile, their nominations of two independent directors would be discussed at the company’s next annual general meeting, scheduled for June 14, “when all directors and nominees will be considered for election or re-election to the Bumi Plc board”.

    A person close to Mr Tan said the Indonesians still wanted to see the proposed shake-up happen “but they were persuaded it would be preferable to proceed in a less public way”. “What they want to achieve could be done through the normal channels,” added another person close to Bumi. “They realised they’d been overhasty.”

    In a statement, Sir Julian and Lord Renwick said they were “pleased that positive account has been taken of the views of independent directors on behalf of all shareholders and that the notice of a general meeting has been withdrawn”, adding that appointments to the Bumi board would now be considered “in accordance with normal procedures”.

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    20120215, Bakries: Rothschild can stay on Bumi board

    Wednesday, February 15, 2012

    Indonesia’s Bakrie family and their partner, Samin Tan, have withdrawn their demand for a meeting to remove financier Nat Rothschild and other directors from the board of PT Bumi Resources, the Financial Times reported. They said Rothschild can remain on the board if he steps down as co-chairman and stops being a “disruptive influence.”

    They plan to make their proposal at a board meeting scheduled for March 26, the article said. Rothschild’s relationship with the Bakries soured after he called for a shakeup of the company, the FT report noted. (Source: Financial Times, Feb. 15, 2012.)


    http://online.wsj.com/article/SB10001424052702304636404577291172753313432.html

    201203191210, Head of Bumi Investor Wants to Restructure Firm

    By ERIC BELLMAN And LINDA SILAEN, March 19, 2012, 12:10 p.m. ET

    JAKARTA—The head of PT Borneo Lumbung Energi & Metal, one of the biggest shareholders in mining company Bumi PLC, hopes to restructure the London-listed company by merging some of its assets and bringing in new investors.

    Coal-mining and infrastructure company Borneo Lumbung controls about 15% of the voting rights in Bumi, which is one of the world’s largest coal exporters. Borneo Lumbung Chief Executive Samin Tan is set to become the chairman of Bumi after Borneo Lumbung acquired the stake late last year.

    Ken Allen, a spokesman for Borneo Lumbung, said Mr. Tan wants to streamline the structure of Bumi’s holdings by combining its assets and businesses, which are held through stakes in different coal and mineral mines.

    Mr. Allen said one option being considered is the merging of some of the assets of PT Bumi Resources and PT Berau Coal Energy, in which Bumi PLC holds stakes of about 30% and 85%, respectively. By taking on new investors, the different units under Bumi PLC could also raise cash for its expansion.

    The move follows calls for a board shake-up last month that pummeled Bumi’s shares and pitted its top investors against financier Nat Rothschild. Indonesia’s Bakrie Group and Borneo Lumbung—which together control about 30% of the voting rights—moved to oust Mr. Rothschild from the board after he publicly questioned the governance standards at some Bakrie companies.

    The two sides later agreed that Mr. Tan could become chairman and Mr. Rothschild would step down as co-chair but remain on the board. Mr. Allen said the Bakrie Group supports Mr. Tan’s restructuring plans for Bumi. Mr. Rothschild’s spokesman and the Bakrie Group declined to comment.

    Bumi was born from a complicated deal in 2010 in which Mr. Rothschild’s Vallar PLC bought a stake in Indonesia’s Bumi Resources in a reverse takeover, which brought Bakrie’s valuable mining assets into an investment shell created by Mr. Rothschild and listed on the London Stock Exchange. Vallar’s name was later changed to Bumi. Borneo Lumbung later bought half of the Bakrie family’s stake in Bumi for close to $1 billion as the Bakries struggled to pay off debt.

    Write to Eric Bellman at eric.bellman@wsj.com


    http://online.wsj.com/article/SB10001424052702303624004577338090209186010.html

    201204112318, Some Investors See Makings of Coal-Share Resurgence

    By MATT DAY, April 11, 2012, 11:18 p.m. ET

    Coal-company shares have taken their lumps. Now, some investors say the worst could be over. In their view, the recent slump in coal demand, caused by power stations switching to cheaper natural gas, could be nearing an end. That is raising the prospect that coal prices could rise, and so, too, could coal stocks.

    The Dow Jones U.S. Coal Index has tumbled 57% over the past year as plummeting coal prices eroded profits of most producers. The slide in coal-company shares has moderated recently, though, with coal stocks down 16% this year. Investors say that is a reflection of the belief that the shift from coal to natural gas is almost over. On Wednesday, the index rose 1.3%, to 198.68.

    Shares in U.S. coal miners “are a great buying opportunity now,” said Dan Rice, a managing director at BlackRock who oversees the firm’s $1.2 billion energy and resources portfolio. The fund has held on to coal-mining shares even while coal stocks were plunging. “People get so myopic,” he said. “They overshoot on the downside.”

    Mr. Rice expects U.S. coal output to decline about 11% this year, which will help shore up coal prices. Power plants across the U.S. have dropped coal in favor of natural gas, lured by a 52% slump in natural-gas prices in the past year. Coal prices have dropped, too, but by 30%. In January, 38% of electricity was generated from coal, compared with 47% a year earlier, according to the Energy Information Administration.

    Analysts at FBR Capital Markets say most power plants that could switch to gas already have done so. In a research note last month titled “The Great Coal-To-Gas Switching Hoax,” the analysts argue there is little downside left for coal prices.

    Utilities keep fuel use a secret, so market observers turn to official electricity data from the U.S. government to estimate how much natural gas and coal is being burned at any given time. Utilities already have switched almost 90% of capacity that can be used for both fuels to natural gas, according to FBR estimates.

    On average, that comes to an additional 3.5 billion cubic feet of natural gas a day, in which four billion cubic feet a day is the limit. For natural gas to make bigger inroads at coal’s expense, new natural-gas plants would have to be built, a process that takes years.

    Already, there are signs the industry is turning a corner. Last year, as the free fall in natural gas took prices to levels that would increase demand from utilities, investors dumped coal companies. Some investors see the free fall in natural-gas prices as proof that utilities aren’t picking up significant additional volumes of gas to replace coal.

    Shares of Peabody Energy Corp., the largest coal producer in the U.S., on Wednesday fell nine cents, or 0.3% to $27.30. The stock is down 18% this year. Alpha Natural Resources Inc., which is down 28% this year, rose 36 cents, or 2.5%, to $14.63.

    The decline in profits is expected to bottom out in the first half of this year for most coal companies. Peabody, which reports results on April 19, is forecast to post earnings per share of 54 cents for the first quarter, according to analysts polled by Thomson Reuters. The company’s earnings per share is expected to increase to 89 cents in the fourth quarter.

    While generally the outlook for coal demand in the U.S. is moderating, global demand is heating up. Coal exports doubled last year, and companies are expanding port facilities and rail lines to send even more abroad this year. Another bullish factor is a delay in the implementation of federal pollution rules, which makes it feasible for some utilities to continue to burn coal until legal challenges are resolved.

    The ability to boost exports is what lures Matthew Peterson, a portfolio manager at Newgate Capital Management, to companies such as Peabody Energy and Consol Energy Inc. Mr. Peterson shed some coal-miner holdings last year, but said he is going to hold on to the positions he has left.

    Coal-miner shares have fallen so much that some are now at bargain valuations, some analysts say. The Dow Jones U.S. Coal Index is trading at an adjusted price/earnings ratio of about six, according to Michael Tian, an analyst with Morningstar. It typically has hovered just below 10 over the past five years. “There are good values,” Mr. Tian said. “But you have to pick your spots.”

    Write to Matt Day at matt.day@dowjones.com

    A version of this article appeared April 12, 2012, on page C4 in the U.S. edition of The Wall Street Journal, with the headline: Some Investors See Makings Of Coal-Share Resurgence.


    http://myinvestingnotes.blogspot.com/2012/04/investor-concerns-about-use-of-leverage.html

    201204231911, Investor concerns about the use of leverage in the Bakrie Group

    By Prakash Chakravarti and Janeman Latul, Mon Apr 23, 2012 7:11pm EDT
    Wednesday, April 25, 2012

    Deadline looms for Bakries covenant breach. (Reuters) – Indonesian group Bakrie has until Friday to resolve a covenant breach on a $437 million loan following a drop in the price of its London-listed coal miner Bumi Plc last week, sources familiar with the loan said on Monday.

    The breach was the latest in a series of debt problems for Bakrie Group, one of Indonesia’s largest conglomerates and which avoided a debt crisis last year by selling a stake in Bumi Plc to an Indonesian investor for $1 billion.

    Credit Suisse sent a notice on behalf of lenders to the borrower following the covenant breach, after Bumi Plc shares – pledged as collateral against the borrowing – slid 3.8 percent over the course of last week, according to the sources, who declined to be identified because the matter was not public.

    Bumi Plc declined to comment. A director at the Bakrie Group’s Jakarta-listed coal miner Bumi Resources said he was not aware of any default notice. Bumi Resources shares dropped 7.4 percent on Monday, while Bumi Plc shares were down a further 7.6 percent on the day by 1150 GMT.

    The sources said the notice required Bakrie Group to bring back the collateral coverage on the loan to a level that would require depositing cash of around $100 million with lenders. Failure to do so by the deadline of April 27 would constitute a default that could lead to lenders demanding prepayment of the full $437 million loan.

    The Financial Times first reported on Saturday that creditors issued a default notice on the $437 million loan. One of the sources told Reuters that Bakrie family arm Long Haul, which took a $247 million portion of the loan, could either top up the loan or pay it and then refinance it.

    Either way, a majority of creditors were backing the Bakrie Group so a default requiring full prepayment was seen as unlikely, meaning this was unlikely to become a new crisis, the source said. A director at Bakrie Group holding firm Bakrie & Bros , which took the other $190 million of the loan that does not require a top-up, said: “We are not in any default situation with our loan at the moment.”

    Shares in Bakrie & Bros were unchanged on Monday. Even so, the new debt issue is likely to add to investor concerns about the use of leverage in the Bakrie Group and its subsidiary companies and corporate governance, both issues that have weighed on its stocks in the past year.

    Bumi Plc’s stock has fallen 43 percent so far this year. Bumi Plc sought to draw a line under discord between its main stakeholders last month, announcing a board shake-up that saw new major shareholder Samin Tan installed as chairman and that left a role for co-founder Nat Rothschild.

    Posted by Investbullbear Investbullbear at 7:53 AM


    http://finance.detik.com/read/2012/09/24/163334/2033205/6/bumi-plc-temukan-indikasi-penyimpangan-dana-saham-bumi-resources-anjlok

    201209241633, Bumi Plc Temukan Indikasi Penyimpangan Dana, Saham Bumi Resources Anjlok

    Whery Enggo Prayogi – detikfinance, Senin, 24/09/2012 16:33 WIB

    Jakarta – Perusahaan investasi yang tercatat di Bursa London, Bumi Plc menyatakan telah menemukan penyimpangan atas kinerja keuangan dan operasi anak usahanya di Indonesia, PT Bumi Resources Tbk (BUMI). Atas kabar tersebut, saham BUMI di pasar modal Indonesia pun terkoreksi 160 poin menjadi Rp 680 per lembar jelang saat penutupan perdagangan, Senin (24/9/2012).

    Bumi Plc dalam keterangan tertulisnya melalui Head of Group Communications and Investor Relations Nick von Schirnding menjelaskan, penyimpangan atas kinerja di anak usahanya telah diselidiki oleh penyidik independen. Bumi Plc yang memiliki 29% dari total saham BUMI juga telah melaporkan indikasi penyimpangan tersebut kepada Dewan Komisaris.

    “Perusahaan juga telah menghubungi otoritas (pasar modal) di Inggris dan Indonesia,” kata Bumi Plc. Penyidik independen telah masuk pada dana pengembangan yang dikelola Bumi Resources dan satu pengembangan aset di PT Berau Coal Energy Tbk (BRAU).

    Kedua pengembagan yang dilakuan tercatat mencatat nihil di Bumi Plc per 31 Desember 2011, kecuali nilai investasi bawaan US$ 39 juta. Saham BUMI atas kabar ini pun langsung terkoreksi cukup dalam. Saham BUMI dibuka di Rp 800 per lembar saham atau turun dibanding penutupan akhir pekan lalu yang mencapai Rp 840 per lembar saham.

    Jelang penutupan sesi II perdagangan hari ini, BUMI setia di level Rp 690 atau turun 150 poin (17,68%) dari posisi sebelumnya. Akhirnya saham BUMI ditutup di 680 atau minus 19,05% atau turun 160 poin. Saham Bumi Plc pun setali dua uang dengan BUMI. Saham perseroan kembali turun 64 poin (32,98%) menjadi 131,3. (wep/dru)


    http://finance.detik.com/read/2012/09/25/102643/2034352/6/ari-hudaya-mundur-dari-bumi-plc-pasca-dugaan-penyimpangan-dana?f9911023

    201209251035, Ari Hudaya Mundur dari BUMI Plc Pasca Dugaan Penyimpangan Dana

    Whery Enggo Prayogi – detikfinance, Selasa, 25/09/2012 10:35 WIB

    Jakarta – Direktur Bumi Plc Ari Hudaya mengundurkan diri dari jabatannya menyusul adanya tuduhan penyimpangan dana di PT Bumi Resources Tbk (BUMI). Ari sebelumnya pernah menjabat sebagai CEO Bumi Plc sampai Maret 2012 silam. “Bapak Ari Hudaya sudah mengundurkan diri dari jabatan direktur non eksekutifnya di Bumi Plc, efektif 24 September 2012,” kata Direktur dan Sekretaris Korporasi BUMI, Dileep Srivastava kepada detikFinance, Selasa (25/9/2012).

    Menurut Dileep, Ari sengaja melepas jabatan tersebut untuk lebih fokus membangun bisnis di BUMI, perusahaan tambang grup Bakrie. Saat ini, Ari masih menjabat sebagai Presiden Direktur BUMI, perusahaan yang 29% sahamnya dikuasi Bumi Plc. Sebelumnya, perusahaan patungan antara Grup Bakrie dan keluarga Rothschild itu telah menemukan penyimpangan atas kinerja keuangan dan operasi anak usahanya di Indonesia, yaitu BUMI.

    Bumi Plc dalam keterangan tertulisnya melalui Head of Group Communications and Investor Relations Nick von Schirnding menjelaskan, penyimpangan atas kinerja di anak usahanya telah diselidiki oleh penyidik independen. Perusahaan yang dulunya bernama Vallar Plc itu juga telah melaporkan indikasi penyimpangan tersebut kepada Dewan Komisaris.

    Jajaran direksi lengkap Bumi Plc saat ini adalah:

    Komisaris Utama: Samin Tan
    Wakil Komisaris: Indra Bakrie
    Dewan Komisaris: Julian Michael Horn-Smith
    Direktur Utama: Nalinkant Amratlal Rathod
    Direktur Keuangan: Scott Andrew Merrillees
    Direktur Merger dan Akuisisi: Daren MorrisHead
    Kepala Hubungan Investor dan Komunikasi: Nick Von SchirndingHead
    Sekretraris Perusahaan: Paul Vickers
    (ang/dnl)


    http://www.thejakartaglobe.com/business/rothschild-forming-consortium-with-prabowo-to-counter-bakrie-buyout/553817

    20121102, Rothschild Forming Consortium With Prabowo to Counter Bakrie Buyout

    Janeman Latul and Clara Ferreira-Marques | November 02, 2012

    Financier and co-chairman of Bumi Plc Nathaniel Rothschild (L) sits with Bakrie & Brothers Chief Executive Officer Bobby Gafur Umar following an agreement between Bumi Resources and Vallar Plc in Singapore in this handout file photo dated November 15, 2010. (Reuters Photo).

    Jakarta/London. Financier Nat Rothschild is in talks with Indonesian investors, including a contender for the country’s presidency, on a plan to counter a $1.4 billion proposal by the influential Bakrie family to dismantle coal mining group Bumi Plc, sources said. Rothschild set up Bumi with the Bakries two years ago, when the politically connected family injected Indonesian coal assets into a London investment shell created by the financier.

    But their relations have since soured, sparking public confrontations, most recently over an investigation into potential financial wrongdoing in Bumi’s Indonesian assets, as coal prices tumble and the London firm’s shares slump. Tensions culminated last month when the Bakries announced plans to unwind the venture. Rothschild resigned from Bumi’s board, aiming to fight a proposal he said would not be in the interests of minority shareholders.

    Sources with direct knowledge of the matter said Rothschild was now in discussions with various potential partners including former general and current presidential candidate, Prabowo Subianto, to thwart the Bakrie aim of regaining full control of their coal empire and dismantling London-listed Bumi Plc.

    He also held discussions with Hashim Djojohadikusumo, Prabowo’s brother, owner of the Arsari group of companies and a player in agriculture and tin mining. The sources would not say in what capacity Prabowo, the former son-in-law of ex-Indonesian President Suharto, or his brother, were involved. Calls to Prabowo’s cell phone were not returned.

    “[They] are looking to find an alternative solution [for shareholders],” said one of the sources. Another source said the plan would aim to effectively keep Bumi Plc alive — without the Bakrie family and associated shareholders — reviving the original plan of applying UK corporate governance to promising Indonesian assets.

    The sources said details of the plan were still being hammered out, as there was some disagreement within the consortium on how to structure the proposal. Morgan Stanley has been appointed to advise the group, one of the sources said. A spokesman for Nat Rothschild declined to comment.

    Battle for Berau

    The Bakrie Group, led by family patron Aburizal Bakrie who is also a candidate for the 2014 election, said last month it planned to draw a line under the ill-fated London venture and take back operating assets now held by Bumi — coal miners Bumi Resources and Berau Coal Energy.

    The Bakrie plan has three stages: swapping their Bumi Plc shares for part of the 29 percent of Bumi Resources held by the London-listed company; acquiring the rest of the stake for cash; and then eventually buying Bumi Plc’s 85 percent stake in Berau.

    The sources said the Bakries’ influence over Bumi Resources, the jewel in the Bakrie coal empire, and the fact there was only a minority share at stake, should allow the family to take back that asset. It is also the easiest exit for the Bakries — something all sides agree is now inevitable, the sources said.

    The battle instead is expected to be fought over Berau, Indonesia’s fourth-largest coal miner, given the relative lack of influence the Bakries have there. The Bakrie family has offered to buy Bumi Plc’s stake in Berau, with sources citing a price tag of around $950 million, assuming the necessary cash can be raised.

    Shares in Berau jumped on hopes of a potential counter-proposal to the Bakrie plan, and hopes of Bumi’s survival also lifted that battered stock up 7 percent. Bumi said in a statement triggered by the share move that it had not received any proposal. Bumi’s share price has steadily risen since the breakup proposal was made.

    “This could be a tough and long battle for both parties to buy Berau,” said Fadlul Imansyah, head of equities at CIMB Asset Management, an investment fund based in Jakarta. “Rothschild has a good eye in picking a partner who is at the same level (as Bakrie). Prabowo could help seal the deal. Fund-wise, it shouldn’t be a problem.”

    Inquiry

    Nat Rothschild’s relationship with the Bakries hit a low point last month, after news of an inquiry into possible financial wrongdoing.

    A formal counter proposal would not come until the independent inquiry is completed, one of the sources said, adding that could take months, with checks into the origin of the whistleblower documents and an additional Indonesian probe potentially slowing proceedings.

    Though still heavily in debt, the Bakrie Group is aiming to get coal back under the family’s roof. The conglomerate has businesses spanning from agriculture to banking and real estate. Aburizal Bakrie, the eldest child of the late Achmad Bakrie, was the chairman of the group until 2004, when he became Indonesia’s Coordinating Minister for Economy.

    In 2009, he was elected as the chairman of the Golkar Party, which was defeated at the last election by the Democratic Party. Prabowo, a candidate of the Gerindra party, has led in recent opinion polls ahead of the 2014 election.

    Reuters


    http://www.thejakartaglobe.com/business/bumi-says-receives-rothschild-counter-proposal/554342

    20121105, Bumi Says Receives Rothschild Counter Proposal

    November 05, 2012

    Financier and co-chairman of Bumi Plc Nathaniel Rothschild (L) sits with Bakrie & Brothers Chief Executive Officer Bobby Gafur Umar following an agreement between Bumi Resources and Vallar Plc in Singapore in this handout file photo dated November 15, 2010. (Reuters Photo).

    London. Bumi Plc said on Monday it had received from co-founder Nat Rothschild details of an alternative proposal for the group, that would counter a $1.4 billion plan by the influential Bakrie family to dismantle the coal mining venture. Bumi said its independent directors and advisers, Rothschild Group, would consider the proposal from the financier, alongside the plan on offer from the Bakries. It gave no details of Rothschild’s proposal.

    Bumi added its board would not make any recommendations until an investigation into alleged financial wrongdoing at its Indonesian operations was “appropriately advanced.” Reuters reported last Friday that Rothschild was in talks with new Indonesian investors including Prabowo Subianto, a contender for the country’s presidency, on a plan to counter the Bakrie offer.

    Reuters


    http://economy.okezone.com/read/2012/11/06/278/714153/investigasi-bumi-plc-hambat-refinancing-utang-bumi-resources

    201211060837, Investigasi Bumi Plc Hambat Refinancing Utang Bumi Resources

    Widi Agustian – Okezone, Selasa, 6 November 2012 08:37 wib

    JAKARTA – PT Bumi Resources Tbk (BUMI) tampaknya harus berpikir keras untuk mengatasi besarnya utang. Utang Bumi Resources ditaksir mencapai USD700 juta, setara dengan Rp6,75 triliun (Rp9.600 per USD) sampai akhir tahun 2013. Seperti diungkapkan lembaga pemeringkat S&P yang dikutip dari Reuters, Selasa (6/11/2012), rencana refinancing utang perseroan terancam dengan langkah induk usahanya, Bumi Plc yang melakukan investigasi.

    Menurut S&P, langkah Bumi Plc yang melakukan invetigasi terkait dugaan penyelewengan dana operasional tersebut bisa melemahkan posisi BUMI. Penyelidikan itu, lanjutnya, bisa melemahkan posisi Bumi Resources di pasar modal. Alhasil, perseroan yang tengah membutuhkan banyak pendanaan untuk membayar utang akan semakin sulit.

    Dia memperkirakan, posisi utang perseroan ada di USD4,5 miliar, setara dengan Rp43,5 miliar dengan biaya bunga sebesar 12 persen selama 12 bulan ke depan. S&P menyebutkan, sumber pendanaan internal dari kas perseroan merupakan yang paling masuk akal untuk membayar utang. Tapi, tampaknya kas perseroan tidak akan bertambah banyak. (wdi)


    http://economy.okezone.com/read/2012/11/07/278/714758/dijepit-prabowo-rothschild-saham-bakrie-keok

    201211070907, ‘Dijepit’ Prabowo-Rothschild, Saham Bakrie Keok

    Widi Agustian – Okezone, Rabu, 7 November 2012 09:07 wib

    JAKARTA – Nat Rothschild sudah memberikan proposal tandingan kepada Bumi Plc untuk mencegah Grup Bakrie mengambilalih PT Bumi Resources Tbk (BUMI) dan PT Berau Coal Energy Tbk (BRAU). Tak tanggung-tanggung, Rothschild pun dikabarkan menggandeng beberapa pihak di Indonesia, salah satu yang ditemuinya adalah Prabowo Subianto.

    Prabowo adalah ketua umum Partai Gerinda, dia juga disebut-sebut sebagai salah satu kandidat presiden Indonesia. Selain itu, Prabowo merupakan mantan menantu dari Presiden Soeharto. Lalu, bagaimana dampak aksi terbaru Rothschild tersebut ke saham-saham perusahaan milik Grup Bakrie di Indonesia?

    Berdasarkan pantauan Okezone, sejak kabar ini berhembus, saham-saham Grup Bakrie mengalami tekanan.

    1. PT Bumi Resources Tbk (BUMI). Harga saham perusahaan batu bara andalan Grup Bakrie ini terpantau terus turun, yakni dari Rp670 (2 November) menjadi Rp650 (pada 6 November).
    2. PT Bumi Resources Mineral Tbk (BRMS). Perusahaan yang memiliki saham PT Newmont Nusa Tenggara (NNT) ini harga sahamnya terus melorot dari Rp390 (2 November) menjadi Rp380 (5 November) dan Rp375 (6 November).
    3. PT Bakrieland Development Tbk (ELTY). Perusahaan properti Bakrie ini turun dari Rp60 (2 November) menjadi Rp59 (6 November).
    4. PT Bakrie Sumatera Plantations Tbk (UNSP). Perusahaan perkebunan ini turun dari Rp117 (2 November) menjadi Rp116 (5 November) dan Rp114 (6 November).
    5. PT Bakrie Telecom Tbk (BTEL). Saham perusahaan telekomunikasi ini turun dari Rp58 (2 November) menjadi Rp56 (5 November) dan Rp55 (6 November).

    Sementara itu, saham PT Bakrie & Brother Tbk (BNBR) terpantau stagnan di Rp50, begitu juga saham PT Dharma Henwa Tbk (DEWA) tetap di Rp50. Hanya saham PT Visi Media Asia Tbk (VIVA) yang naik dari Rp510 (2 November) menjadi Rp550 (6 November). Sebagai informasi, langkah terbaru Rothschild ini adalah sebagai bentuk perlawanan atas proposal yang diajukan Grup Bakrie ke Bumi Plc, perusahaan asal London, Inggris yang awalnya dijalankan bersama oleh Rothschild dan Bakrie.

    Tak hanya itu, Rothschild juga disebut-sebut telah meminta perusahaan investasi kelas kakap, Morgan Stanley, sebagai pendamping dalam menghadapi persoalan bisnisnya dengan Grup Bakrie. Sebelumnya, Grup Bakrie mengajukan proposal, yakni untuk melepas kepemilikan di Bumi PLC sebesar 23,8 persen untuk ditukar dengan 10 persen kepemilikan di Bumi Resources.

    Pada proposal tahap kedua, Grup Bakrie akan membeli 18,9 persen sisa saham Bumi PLC di unit usaha Indonesia senilai USD278 juta atau setara Rp2,6 triliun (Rp9.600 per USD). Bakrie kemudian dapat mengendalikan 29 persen saham Bumi Resources dan tidak perlu berhubungan dengan Bumi PLC.

    Dalam proposal tahap ketiga, Bakrie akan membeli aset tambang lain milik Bumi PLC, yakni 85 persen saham di PT Berau Coal Energy senilai USD950 juta (Rp9,1 triliun). (wdi)


    http://economy.okezone.com/read/2012/11/07/278/715238/kisruh-bakrie-rothschild-saham-bumi-takkan-melejit

    201211080625, Kisruh Bakrie-Rothschild, Saham BUMI Takkan Melejit

    Rizkie Fauzian – Okezone, Kamis, 8 November 2012 06:25 wib

    JAKARTA – Kisruh Bakrie dan Nat Rothschild membuat saham Bumi Plc naik, namun saham BUMI Resources belum memperlihatkan adanya kenaikan. Pasalnya, walaupun saham BUMI memiliki volatilitas tinggi namun investor saat ini dinilai lebih rasional dalam melihat pergerakan saham.

    Hal tersebut diungkapkan Kepala Riset Buana Capital Indonesia Alfred Nainggolan saat ini yang dilihat itu lebih kepada fundamental emiten tersebut, seperti laporan keuangan. Bila kita lihat seperti BTEL dalam laporan keuangan mengalami kerugian, seharusnya menjadi sentimen negatif.

    “Kalau melihat secara netral, seharusnya dengan banyaknya isu tersebut, saham tidak akan melejit terlalu tinggi dan tidak akan bergerak banyak, investor lebih mengharapkan kepada sesuatu yang lebih real seperti laporan keuangan pada kuartal keempat nanti,” katanya kepada Okezone, Kamis (8/11/2012).

    Alfred menambahkan, harus dipisahkan antara investor yang jangka panjang dengan para trader, karena bila dilihat saham BUMI diincar para trader bukan investor long term karena saham BUMI ini menjanjikan gain yang lebih besar. “Saham BUMI ini kan volatile atau naik turunnya tinggi. Justru saham yang seperti ini yang disukai trader yang retail karena gain-nya besar,” tambahnya.

    Terkait rencana Rothschild menggaet Prabowo, menurut Alfred mengatakan, langkah itu sudah pernah terjadi. “Dulu kan menggandeng Samin Tan, ending-nya cukup bagus. Tapi kalau sekarang kita kan belum lihat konkretnya seperti apa nantinya,” jelasnya. Sekarang ini investor lebih menunggu fakta tentang laporan keuangan yang semakin baik, bukan janji atau isu-isu yang berkembang. (mrt)


    http://economy.okezone.com/read/2012/11/09/278/716368/rotchchild-tunjuk-macfarlanes-bumi-minta-diaudit-pn-jaksel

    201211091935, Rotchchild Tunjuk Macfarlanes, BUMI Minta Diaudit PN Jaksel

    Widi Agustian – Okezone, Jum’at, 9 November 2012 19:35 wib

    JAKARTA – PT Bumi Resources Tbk (BUMI) disebut telah melakukan penyelewengan dana ekplorasi dan pengembangan. Induk usahanya, Bumi Plc pun telah menunjuk tim independen, yakni kantor hukum Macfarlanes untuk melakukan audit. Kendati investigasi yang dilakukan Macfarlanes belum menemui kesimpulan, Bumi Resources sudah mengambil langkah tandingan.

    Yakni, dengan meminta kepada Pengadilan Negeri Jakarta Selatan (PN  Jaksel) untuk menunjuk tim pemeriksa independen untuk melakukan pemeriksaan terhadap perseroan. “Pada 8 November 2012, Pengadilan Negeri Jakarta Selatan telah mengabulkan permohonan yang diajukan oleh Komite Audit untuk melakukan pemeriksaan terhadap perseroan,” jelas Direktur Bumi Resources Dileep Srivastava dalam keterangan tertulisnya, Jumat (9/11/2012) malam.

    PN Jaksel juga memerintahkan presiden direktur BUMI dan segenap direksi maupun karyawan untuk menyediakan seluruh data dan informasi yang diperlukan dalam rangka pemeriksaan, khususnya terkait dengan pengelolaan keuangan, transaksi investasi dan transaksi keuangan lainnya yang dilakukan perseroan maupun anak-anak perusahaan yang dikonsolidasikan, untuk tahun buku 2010, 2011 dan tahun buku 30 Juni 2012, termasuk akan tetapi tidak terbatas transaksi-transaksi penempatan dana investasi BRM pada UOB.

    Sebelumnya, investigasi yang dipimpin Deputy Chairman Bumi Plc, Sir Julian Horn Smith, menghasilkan temuan awal antara lain aset eksplorasi senilai USD240 juta yang ditempatkan Bumi Plc di PT Lumbung Borneo Energi Tbk (BORN) telah raib.

    Selain itu ada dana USD500 juta yang disebut development assets dalam laporan keuangan BUMI, termasuk kepemilikan saham USD363 juta pada kepemilikan ladang minyak di Yaman melalui anak usaha Oil Gallo. “Aset-aset tersebut divaluasi menjadi nol pada laporan keuangan bumi diduga untuk proyek-proyek tersebut,” tulis Macfarlanes.

    Lembaga pemeringkat S&P juga menyatakan, Bumi Resources tampaknya harus berpikir keras untuk mengatasi utangnya yang sebesar USD700 juta, setara dengan Rp6,75 triliun (Rp9.600 per USD) sampai akhir tahun 2013. Rencana refinancing utang perseroan terancam dengan langkah induk usahanya, Bumi Plc yang melakukan investigasi.

    Menurut S&P, langkah Bumi Plc yang melakukan invetigasi terkait dugaan penyelewengan dana operasional tersebut bisa melemahkan posisi BUMI. Penyelidikan itu, lanjutnya, bisa melemahkan posisi Bumi Resources di pasar modal. Alhasil, perseroan yang tengah membutuhkan banyak pendanaan untuk membayar utang akan semakin sulit.

    Dia memperkirakan, posisi utang perseroan ada di USD4,5 miliar, setara dengan Rp43,5 miliar dengan biaya bunga sebesar 12 persen selama 12 bulan ke depan. S&P menyebutkan, sumber pendanaan internal dari kas perseroan merupakan yang paling masuk akal untuk membayar utang. Tapi, tampaknya kas perseroan tidak akan bertambah banyak. (wdi)


    http://economy.okezone.com/read/2012/11/13/278/717602/rothschild-kibarkan-bendera-perang-ke-bakrie

    201211131053, Rothschild Kibarkan Bendera Perang ke Bakrie

    Widi Agustian – Okezone, Selasa, 13 November 2012 10:52 wib

    LONDON – Nathaniel Rothschild ternyata tidak mengajukan penawaran untuk menguasai aset batu bara yang dimiliki Bumi Plc, yakni PT Bumi Resources Tbk (BUMI) dan PT Berau Coal Energy Tbk (BRAU). Di mana sebelumnya dia telah mengirimkan proposal pada awal bulan ini.

    Rothschild menegaskan, dalam proposalnya dia memberikan alternatif kepada Grup Bakrie. Proposal tandingan ini tengah dikaji oleh advisor Bumi Plc dan direktur independen perusahaan Londong ini. “Saya tidak membuat proposal untuk mengejar aset Bumi Plc. (Proposal) ini juga bukan tentang Rothschild versus Bakrie,” kata Rothschild seperti dilansir Bloomberg, Selasa (13/11/2012).

    “Saya adalah salah satu investor yang menginginkan Bumi Plc konsisten sebagai perusahaan publik, memiliki corporate governance berkelas dunia dan tetap melakukan investigasi di Indonesia. Di mana Bumi adalah rumah bagi keputusan strategis dan ekonomis bagi batu bara thermal,” jelas dia.

    Bumi Plc didirikan oleh Rothschild dan Bakrie pada tahun 2010 dengan nilai USD3 miliar. Perusahaan yang terdaftar di London ini menguasai dua produsen batu bara Indonesia. Sebagai informasi, langkah terbaru Rothschild ini adalah sebagai bentuk perlawanan atas proposal yang diajukan Grup Bakrie ke Bumi Plc, perusahaan asal London, Inggris yang awalnya dijalankan bersama oleh Rothschild dan Bakrie.

    Tak hanya itu, Rothschild juga disebut-sebut telah meminta perusahaan investasi kelas kakap, Morgan Stanley, sebagai pendamping dalam menghadapi persoalan bisnisnya dengan Grup Bakrie. Sebelumnya, Grup Bakrie mengajukan proposal, yakni untuk melepas kepemilikan di Bumi PLC sebesar 23,8 persen untuk ditukar dengan 10 persen kepemilikan di Bumi Resources.

    Pada proposal tahap kedua, Grup Bakrie akan membeli 18,9 persen sisa saham Bumi PLC di unit usaha Indonesia senilai USD278 juta atau setara Rp2,6 triliun (Rp9.600 per USD). Bakrie kemudian dapat mengendalikan 29 persen saham Bumi Resources dan tidak perlu berhubungan dengan Bumi PLC.

    Dalam proposal tahap ketiga, Bakrie akan membeli aset tambang lain milik Bumi PLC, yakni 85 persen saham di PT Berau Coal Energy senilai USD950 juta (Rp9,1 triliun). (wdi)


    http://economy.okezone.com/read/2012/11/17/278/719489/12-desember-bumi-plc-bahas-lagi-sengketa-bakrie-rothschild

    201211171510, 12 Desember, Bumi Plc Bahas Lagi Sengketa Bakrie-Rothschild

    Widi Agustian – Okezone, Sabtu, 17 November 2012 15:10 wib

    JAKARTA – Bumi Plc bakal kembali melakukan pertemuan internal pada 12 Desember 2012 mendatang. Pertemuan itu akan menerima laporan akhir dari Macfarlanes dan Rothschild Group. Macfarlanes, firma hukum asal London, Inggris sebelumnya diminta untuk melakukan investigasi terkait dugaan penyelewengan dana senilai lebih dari USD500 juta di anak usahanya, yakni PT Bumi Resources Tbk (BUMI) dan PT Berau Coal Energy Tbk (BRAU).

    Sementara Rothschild Group, yang disebut tidak terafiliasi dengan Nat Rothschild, akan melaporkan hasil kajiannya atas proposal yang diajukan Grup Bakrie. Grup Bakrie mengajukan proposal, yakni untuk melepas kepemilikan di Bumi PLC sebesar 23,8 persen untuk ditukar dengan 10 persen kepemilikan di Bumi Resources.

    Pada proposal tahap kedua, Grup Bakrie akan membeli 18,9 persen sisa saham Bumi PLC di unit usaha Indonesia senilai USD278 juta atau setara Rp2,6 triliun (Rp9.600 per USD). Bakrie kemudian dapat mengendalikan 29 persen saham Bumi Resources dan tidak perlu berhubungan dengan Bumi PLC.

    Dalam proposal tahap ketiga, Bakrie akan membeli aset tambang lain milik Bumi PLC, yakni 85 persen saham di PT Berau Coal Energy senilai USD950 juta (Rp9,1 triliun).

    “Dewan komisaris, termasuk saya sendiri, yang telah terlibat selama hampir satu tahun, tidak bisa melihat bagaimana Bumi PLC dapat terus beroperasi seperti itu. Proposal Bakrie yang ditawarkan pada Oktober lalu untuk mengakuisisi BUMI dan BRAU adalah untuk meredakan konflik antar pemegang saham,” kata Chairman Bumi Plc Samin Tan seperti dikutip dari The Wall Street Journal, Sabtu (17/11/2012).

    Sementara Nat Rothschild juga telah mengajukan proposal tandingan ke Bumi Plc. Isi proposal itu disebut, Rothschild membuka kemungkinan Bakrie mengambil BUMI, tapi tetap menahan BRAU. Sementara Samin Tan mengaku belum melihat usulan Rothschild. Tapi dia mengaku terbuka atas setiap tawaran yang datang kepada Bumi Plc.

    “Setiap pemangku kepentingan yang memiliki ide yang lebih baik atau dapat menawarkan solusi yang lebih baik dipersilakan untuk mengusulkan dan memainkan perannya,” kata Samin Tan. “Dengan demikian, tiap pihak boleh mengirimkan penawarannya jika ingin memperoleh salah satu atau kedua aset yang dimiliki Bumi Plc (BUMI dan BRAU),” ucapnya. (wdi)


    http://economy.okezone.com/read/2012/11/17/278/719493/bumi-plc-putuskan-penawaran-bakrie-tahun-depan

    201211171605, Bumi Plc Putuskan Penawaran Bakrie Tahun Depan

    Widi Agustian – Okezone, Sabtu, 17 November 2012 16:05 wib

    JAKARTA – Bumi Plc akan memutuskan untuk melepas atau tidak aset pertambangannya di Indonesia, PT Bumi Resources Tbk (BUMI) dan PT Berau Coal Energy Tbk (BRAU) pada tahun depan. Sebelumnya, Grup Bakrie mengajukan proposal, yakni untuk melepas kepemilikan di Bumi PLC sebesar 23,8 persen untuk ditukar dengan 10 persen kepemilikan di Bumi Resources.

    Pada proposal tahap kedua, Grup Bakrie akan membeli 18,9 persen sisa saham Bumi PLC di unit usaha Indonesia senilai USD278 juta atau setara Rp2,6 triliun (Rp9.600 per USD). Bakrie kemudian dapat mengendalikan 29 persen saham Bumi Resources dan tidak perlu berhubungan dengan Bumi PLC.

    Dalam proposal tahap ketiga, Bakrie akan membeli aset tambang lain milik Bumi PLC, yakni 85 persen saham di PT Berau Coal Energy senilai USD950 juta (Rp9,1 triliun). Chairman Bumi Plc Samin Tan mengatakan, proses pengkajian atas proposal Bakrie ini kemungkinan akan memakan waktu sampai tahun depan.

    Manajemen, kata Samin Tan, juga akan menunggu hasil investigasi sementara proposal Bakrie dipelajari oleh advisornya, yakni Rothschild Group. “Semua transaksi hanya akan dilakukan pada kuartal pertama awal tahun depan. Mengingat kemajuan dari investigasi masih minim dan diperlukannya izin untuk pelepasan aset,” kata Samin Tan kepada The Wall Street Journal, seperti dikutip Okezone, Sabtu (17/11/2012).

    Bumi telah menunjuk firma hukum asal Londong, Inggris, Macfarlanes untuk menyelidiki penyimpangan keuangan senilai lebih dari USD500 juta di BUMI dan BRAU. Sebelumnya, Nat Rothschild sudah memberikan proposal tandingan kepada Bumi Plc untuk mencegah Grup Bakrie mengambilalih PT Bumi Resources Tbk (BUMI) dan PT Berau Coal Energy Tbk (BRAU).

    Tak tanggung-tanggung, Rothschild pun dikabarkan menggandeng beberapa pihak di Indonesia, salah satu yang ditemuinya adalah Prabowo Subianto. Prabowo adalah Ketua Umum Partai Gerinda, dia juga disebut-sebut sebagai salah satu kandidat presiden Indonesia. Selain itu, Prabowo merupakan mantan menantu dari Presiden Soeharto.

    Rothschild dan Bakrie telah bertengkar sejak berdirinya Bumi Plc terkait bagaimana mengelola perusahaan. Harga saham Bumi Plc sendiri telah jatuh lebih dari 70 persen sejak awal pencatatannya. (wdi)


    http://economy.okezone.com/read/2012/11/20/278/720772/bumi-plc-belum-konfirmasi-bei

    201211201649, Bumi Plc Belum Konfirmasi BEI

    Rizkie Fauzian – Okezone. Selasa, 20 November 2012 16:49 wib

    JAKARTA – Kabar terbaru kasus Bumi Plc menyebutkan bahwa pihaknya telah melakukan komunikasi dengan pihak Bursa Efek Indonesia (BEI). Namun saat dikonfirmasi pihak BEI merasa tidak pernah ada komunikasi terkait dengan kasus tersebut. Hal tersebut disampaikan Direktur Penilaian Perusahaan BEI Hoesen mengatakan bahwa tidak ada komunikasi dengan pihak Bumi Plc terkait rencana investigasi terhadap aset PT Bumi Resources Tbk (BUMI) dan PT Berau Coal Energy Tbk (BRAU).

    “Tidak ada komunikasi dengan kami hingga saat ini, itu kan urusan didalam jadi penyelesaiannya juga masing-masing,”katanya di Jakarta, selasa (20/11/2012). Hoesen juga menambahkan bahwa dengan banyaknya berita yang berkembang diluar pihak bursa tidak dapat mengambil kesimpulan, tugas bursa justru menghentikan segala spekulasi yang berkembang diluar, oleh karena itu perlunya keterbukaan informasi.

    “Sekarang kan prosesnya sendiri belum selesai, jadi belum dapat disimpulkan, mereka sebagai perusahaan publik seharusnya dapat memberikan keterbukaan kepada publik. Saat ini kan tugas kami hanya melihat jika ada sesuatu kami akan memaanggil dan konformasi akan berita tersebut,” tambah Hoesen. (wdi)


    http://webcache.googleusercontent.com/search?hl=id&biw=&bih=&q=cache:kxjFfMr-v8UJ:http://www.ft.com/cms/s/0/4a4edfc8-340b-11e2-8270-00144feabdc0.html%2BFriedland+backs+Rothschild+Bumi+proposal&gbv=2&gs_l=heirloom-hp.3…1010.4276.0.4570.3.3.0.0.0.0.154.443.0j3.3.0…0.0…1c.1.zeLltyMRrPg&ct=clnk

    http://www.ft.com/cms/s/0/4a4edfc8-340b-11e2-8270-00144feabdc0.html

    201211212328, Rothschild backed by Friedland on Bumi

    By Helen Thomas in London, November 21, 2012 11:28 pm

    Nat Rothschild, the financier behind coal miner Bumi Plc, has secured the backing of mining entrepreneur Robert Friedland for his proposal to unwind the London-listed company’s relationship with Indonesia’s influential Bakrie family. Mr Friedland, the billionaire who founded Ivanhoe Mines, which developed the Oyu Tolgoi copper mine in Mongolia, has agreed to invest $50m, according to people familiar with the matter.

    Ivanhoe is now controlled by Rio Tinto, the Anglo-Australian group. Mr Rothschild, who earlier this month made a counter-proposal to the Bakries’ offer to buy back Bumi Plc’s Indonesian mining assets, was finalising commitments from investors for $270m in equity funding, they added.

    He told the investment bank advising the board of Bumi Plc that he had the support of Mr Friedland as well as several other investors, the sources added, and intended to provide further details of his plans shortly. Mr Rothschild’s consortium is likely to include Hashim Djojohadikusumo, the Indonesian businessman and brother of general-turned-politician Prabowo Subianto, according to a person familiar with the matter.

    The Financial Times reported earlier this month that Mr Rothschild had approached a number of Indonesian tycoons, including Mr Djojohadikusumo, about his plans. Mr Rothschild has garnered pledges of support from several existing institutional investors in the group, the person familiar with the matter added, and is in discussions with a large North American pension fund about backing his proposal.

    Mr Friedland, Mr Rothschild and Bumi Plc declined to comment. Since Mr Rothschild in 2011 struck a deal to reverse stakes in Indonesia coal assets into his London-listed cash shell, Bumi Plc has been dogged by corporate governance concerns and boardroom spats. The group’s share price has slumped from a high of £14 to 266.8p on Wednesday.

    One person close to the group earlier this month characterised Mr Rothschild’s ideas as early-stage but said the board would consider them upon receiving more information. Bumi Plc’s board has said it will await the outcome of an investigation – expected in two or three weeks – into potential financial irregularities at its Indonesian businesses before considering proposals from the Bakries and Mr Rothschild.

    According to people familiar with the matter, Mr Rothschild supports the first part of the $1.4bn Bakrie proposal. The family suggested swapping their 23.7 per cent stake in Bumi Plc for shares in Bumi Resources, the Indonesian miner in which the London group has a 29 per cent stake.

    The Bakries would then buy the London group’s remaining stake in Bumi Resources for $278m, severing ties between the two companies. The Bakries also suggested buying Bumi Plc’s 85 per cent stake in Berau Coal, another Indonesian miner, for $950m in six months – though analysts say there remains uncertainty that the heavily indebted family could raise the necessary financing.

    Mr Rothschild, however, envisages buying out the stakes in the London-listed company held by Samin Tan, Bumi’s chairman, who bought half the Bakries’ stake in Bumi Plc late last year, and another associate of the family, Rosan Roeslani, a Bumi Plc director. Mr Friedland, considered one of most successful mining entrepreneurs of his generation, recently listed Ivanplats, an African-focused mining company, on the Toronto stock exchange.

    He is still the second largest shareholder in Ivanhoe, now called Turquoise Hill, which houses Rio’s $6bn Oyu Tolgoi copper project. Separately, according to people familiar with the matter, the Takeover Panel is examining whether Bukit Mutiara, a company that owns 13 per cent of Bumi Plc and is affiliated with Mr Roeslani’s Recapital, is acting in concert with the Bakrie family.

    If that is the case, it could trigger a requirement for the Indonesian investors to bid for the London-listed company. Mr Tan, who borrowed $1bn from Standard Chartered to finance his investment in Bumi Plc at almost £11 a share, is already deemed to be acting “in concert” with the Bakrie family following their deal last year.

    Copyright The Financial Times Limited 2012. You may share using our article tools.
    Please don’t cut articles from FT.com and redistribute by email or post to the web.


    http://www.mining.com/nat-rothschild-ropes-in-robert-friedland-to-take-back-bumi-81744/

    20121122, Robert Friedland joins Rothschild-Bakrie fight over Indonesia coal mines

    Frik Els | November 22, 2012

    It was a billion dollar deal that was supposed to bring two famous business dynasties together – one from the East and the other the West. Nat Rothschild, descendant of the founder of the two-centuries old banking empire, used his family name to get big players – “and big players only” – to back him in a deal to bring a chunk of the vast business interests of the Bakrie family of Indonesia to the City of London.

    Listing the coal and other mining interest in London provided the members of Sumatran family – one of whom has a good chance of becoming president of the world’s fourth most populous nation – a high profile in the West and at the same time gave Nat, 41, the chance to finally transform his popular image from that of a partying rich kid into a financier with true investment chops.

    It was not to be.

    Barely two years after listing, Bumi plc is collapsing amid bitter recriminations, allegations of financial impropriety and a downturn in the market. Investors – including according to some reports members of the UK royal family – have lost three quarters of their money. Rothschild quit the board last month, but today, Nat has come up with a new proposal to save the company.

    He has raised $270 million to fund a proposal to sever ties between the Bakries and Bumi Plc and told Bloomberg News today that his proposal “appears to be the only workable solution.” The Bakries have their own proposal worth $1.2 billion and are believed to be open to discussions.

    A number of Bumi’s top shareholders including Schroders, Standard Life Investments and Abu Dhabi Investment Co. support Rothschild’s proposal, and Nat has also managed to bring on board Robert Friedland, the legendary mining financier, who has agreed to invest $50 million in the venture.

    After a string of major successes, Friedland was poised to cap his mining career with the blockbuster $10 billion Oyu Tolgoi copper-gold mine in Mongolia, but he was ousted from his Ivanhoe Mines in April of this year after Rio Tinto took control of the Vancouver-based company.

    Friedland bounced back last month raising more than $300 million when he took Ivanplats – an African platinum and copper venture – public in Toronto.


    http://www.thejakartapost.com/news/2012/11/23/friedland-backs-rothschild-over-bumi-sources.html

    201211230938, Friedland backs Rothschild over Bumi: Sources

    The Jakarta Post | Business | Fri, November 23 2012, 9:38 AM
    Paper Edition | Page: 14

    Mining sector entrepreneur Robert Friedland is lending his support to Nat Rothschild’s move to keep alive the London-listed Bumi Plc. coal-mining venture, sources familiar with the matter told Reuters. Rothschild founded Bumi two years ago with Indonesia’s politically connected Bakrie family, which reversed Indonesian operating assets into a shell company set up by Rothschild.

    The relationship has soured, however, and in October the Bakries bid US$1.4 billion to reacquire the operating assets that underpin Bumi, a move that would dismantle the group. Earlier this month, Bumi said Rothschild had proposed an alternative. Sources familiar with the matter said that proposal would see Bakrie-supporting shareholders bought out, while Bumi would keep some coal assets, namely majority-owned Berau Coal.

    Friedland — a billionaire famous for spotting the potential of some of the world’s top deposits from Voisey’s Bay nickel deposit in Canada to Mongolia’s Oyu Tolgoi — has agreed to invest $50 million, one of the sources said on Thursday. Rothschild declined to comment and Friedland was not available for comment.

    Bumi’s head of corporate affairs Nick von Schirnding told The Jakarta Post on Thursday that the company would evaluate all proposals, both the Bakrie and Rothschild ones, once an investigation into alleged misappropriation of company assets was completed later in December. “We will be meticulous and nothing will be rushed through,” he said.


    http://economy.okezone.com/read/2012/11/23/278/722186/jika-bakrie-terdepak-rothschild-guyur-bumi-usd270-juta

    201211231147, Jika Bakrie Terdepak, Rothschild Guyur Bumi USD270 Juta

    Martin Bagya Kertiyasa – Okezone, Jum’at, 23 November 2012 11:47 wib

    LONDON – Bumi Plc saat ini telah menerima dua proposal dari dua pemegang saham yang tengah berseteru, keluarga Bakrie dan Nathaniel Rothschild. Keduanya telah mengajukan proposal kepada manajemen Bumi Plc.

    Nathaniel Rothschild, yang mengundurkan diri dari London Bumi Plc bulan lalu, telah mengajukan proposal tambahan sebesar USD270 juta kepada produsen batu bara ini agar memutuskan hubungan dengan pemegang saham di Indonesia, termasuk dengan keluarga Bakrie, Rosan Roeslani, dan Ketua Samin Tan.

    Keputusan tersebut dilakukan oleh NR Investment grup, Rothschild, bersama dengan investor lain untuk menandingi Bakrie. Pengusaha wahid asal Inggris ini mengatakan akan mengelontorkan USD1,2 miliar terhadap aset batu bara Bumi Plc. “Para anggota dewan independen perlu mengevaluasi proposal kami, yang saat ini tampaknya menjadi satu-satunya solusi yang bisa diterapkan,” kata Rothschild dalam keterangannya seperti dikutip dari Bloomberg, Jumat (23/11/2012).

    Seorang sumber mengatakan, rencana ini telah mencapat dukungan dari investor Bumi, yakni Schroders Plc, Standard Life Investments, Artemis Investment Management LLP, dan Abu Dhabi Investment Co. Rothschild telah mengajukan proposal untuk menjawab langkah Bakrie, yang mengatakan akan membeli kembali 29 persen saham PT Bumi Resources Tbk (BUMI).

    Dalam proposal tersebut Rothschild akan menggelontorkan USD278 juta secara tunai, jika keluarga Bakrie dari sahamnya PLC Bumi, melalui konsorsium investasi yang dipimpin NR Investments. NR Investment bahkan bersedia menyuntikkan lebih banyak dana ke Bumi Plc, agar pemegang saham Indonesia lainnya Samin Tan, dan Rosan Perkasa Roeslani, dapat hengkang dari Bumi Plc.

    Saat ini, Samin Tan dan Roeslani memiliki saham di Bumi melalui investasi Recapital Advisors, dan Borneo Lumbung Energi & Metal (BORN). Recapital memiliki saham 13 persen di Bumi, sementara Borneo memiliki 23,8 persen. Borneo memegang sahamnya ditandem dengan Grup Bakrie.

    Sementara di NR Investment, taipan Robert Friedland telah setuju mengucurkan USD50 juta dan menjadi bagian dari konsorsium yang dipimpin Rothschild, di mana dua orang ini akrab dengan masalah tersebut. Friedland, merupakan konglomerat yang mengembangkan proyek pertambangan utama termasuk emas Tolgoi Oyu, tambang tembaga terbesar di Mongolia.

    Selain itu, dari Indonesia Hashim Djojohadikusumo, dan Prabowo Subianto juga telah sepakat untuk menginvestasikan USD50 juta dalam konsorsium. Subianto menegaskan akan melawan Grup Bakrie, Aburizal Bakrie, yang memimpin Partai Golkar di Indonesia dan juga merupakan pesaing dalam Pemilihan Presiden 2014. (mrt)


    http://www.bloomberg.com/news/2012-11-22/rothschild-raises-270-million-to-fund-bumi-split-from-bakries.html

    201211231345, Rothschild Raises $270 Million for Bumi Severance Proposal

    By Jesse Riseborough – Nov 23, 2012 1:45 PM GMT+0700

    Nathaniel Rothschild, who quit the board of London-listed Bumi Plc last month, has raised $270 million for a proposal to the coal producer that would see it sever ties with shareholders including Indonesia’s Bakrie family, Rosan Roeslani and Chairman Samin Tan. Rothschild’s NR Investments has committed funds to the proposal along with other investors, he said in an e-mailed statement sent to Bloomberg News.

    The Bakries, who made a rival $1.2 billion approach for the coal assets of Bumi last month, would be willing to study the plan, spokesman Chris Fong said. “The independent board members need to evaluate our proposal which currently appears to be the only workable solution,” Rothschild said in his statement yesterday.

    The proposal from the 41-year-old, whose ancestor helped bankroll Britain’s war against Napoleonic France, was sent to Bumi independent directors last month as he stepped up a battle for control of the group he set up with the Bakries in 2010. Rothschild resigned as a director amid a feud with the Bakries and Tan, saying he’d lost confidence in the board.

    “They are open to anything that is reasonable and works for everybody,” Bakrie spokesman Fong said by phone from Sydney yesterday. “This is just an unfortunate situation what’s happened.”

    ‘Difficult for Investors’

    Bumi investors Schroders Plc (SDR), Standard Life Investments, Artemis Investment Management LLP and Abu Dhabi Investment Co. have agreed to support Rothschild’s proposal, a person with knowledge of the plan said. The proposal may include a rights offer, the person said, asking not to be identified as the negotiations are confidential.

    “It’s difficult for investors to take a view because we don’t have any details of the proposal,” Richard Knights, an analyst at Liberum Capital Ltd. in London, said by phone. “The key risk is that the company may be left without any powerful, aligned interests in Indonesia and that could be a scary proposition.”

    Robert Friedland, the billionaire founder of mining company Ivanplats Ltd. (IVP), has agreed to invest $50 million in the venture with Rothschild, the person said. Friedland declined to comment. Rothschild, the scion of a centuries-old banking dynasty, also called for Tan to step down. “A new board will restore confidence,” he said in his statement. Tan said last week he supports the Bakries’ offer, adding that it equates to between 5 pounds and 6 pounds a share.

    ‘Bring Price Down’

    “If there’s a deal which can bring the share price to 5 to 6 pounds, why don’t we support it?” he said in a Nov. 15 interview. “If there is other ways and means to achieve the same or even better, rest assured I will go for it. If Nat’s proposal can result in the same or better, I will undoubtedly support it.”

    Bumi Resources shares declined 1.7 percent to 590 rupiah at the midday break in Jakarta trading and were headed for their lowest close since February 2009. Shares of Borneo Lumbung Energi & Metal, which together with the Bakrie group controls 47.6 percent of Bumi Plc, fell 1.6 percent to 610 rupiah.

    “The questions is, can he offer a better deal than the Bakries?” Wilianto Ie, head of Indonesia equities research at Nomura Holdings Inc., said by telephone from Jakarta referring to Rothschild’s offer. Considering Rothschild has “only raised $270 million for now, will he do it with leverage? At the end of the day, he has to offer a better deal than the Bakries.”

    Morgan Stanley

    Rothschild, who is being advised by Morgan Stanley, has also secured support from Hashim Djojohadikusumo, son of Sumitro, one of the architects of Indonesia’s economic programs in the late 1960s, the person said.

    His proposal is being studied by Bumi’s advisers and independent directors, according to a Nov. 5 statement. Officials for Schroders, Standard Life and Artemis and Bumi declined to comment. Officials at Abu Dhabi Investment couldn’t be reached for comment.

    Tan said in the interview he hadn’t seen Rothschild’s proposal as it had only been given to independent directors of Bumi. (BUMI) PT Borneo (BORN) Lumbung Energi and Metal and the Bakrie Group may agree this week to end their joint venture that holds 47.6 percent of the shares in Bumi, freeing Bakrie to trade its stake and exit the company, Tan said in the interview.

    Coal Producers

    The $3 billion deal between Rothschild and the Bakries two years ago listed stakes in two Indonesian coal producers in London. The boardroom infighting and investigations in London and Indonesia into potential financial irregularities have prompted moves to unwind the investment. The Bakries have offered to acquire the 29 percent stake in PT Bumi Resources and 85 percent of PT Berau Coal Energy (BRAU) held by Bumi Plc.

    The Bakrie Group has offered to exchange a 23.8 percent stake in Bumi Plc for 10.3 percent of Jakarta-based Bumi Resources. (BUMI) The group also made a conditional proposal to buy back the remaining 18.9 percent in Bumi Resources in cash by Christmas. In addition, it plans to offer $947 million for Bumi Plc’s 84.7 percent stake in Berau Coal Energy.

    Roeslani is president director of Berau Coal Energy and owns about 13 percent of London-listed Bumi Plc through Recapital. Rothschild owns about 12 percent of the company’s voting stock. Bumi declined 2.6 percent to close at 259.8 pence in London yesterday. Bumi Resources, Indonesia’s top producer of power-station coal, said a court on Nov. 9 approved an independent investigation into its accounts dating back to 2010.

    Bumi Resources is part-owned by the Bakrie family. The probe was prompted by the company’s audit committee “in view of the public notifications by a shareholder, Bumi Plc, and various reports, both in international and local media,” Jakarta-based Bumi Resources said that day.

    The London-listed company announced Sept. 24 an inquiry into “potential financial and other irregularities” at its Indonesian operations, Bumi Resources and Berau Coal Energy.

    To contact the reporter on this story: Jesse Riseborough in London at jriseborough@bloomberg.net
    To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


    http://economy.okezone.com/read/2012/11/26/279/723155/menakar-kekuatan-rothschild-si-musuh-bakrie

    201211261202, Menakar Kekuatan Rothschild, si Musuh Bakrie

    Widi Agustian – Okezone, Senin, 26 November 2012 12:02 wib

    NATHANIEL Rothschild telah mengajukan proposal tandingan atas proposal Grup Bakrie yang diajukan ke Bumi Plc. Dalam proposalnya, Rothschild tampak tegas menginginkan agar semua kroni-kroni Bakrie keluar dari Bumi Plc. Lantas, apakah hal tersebut bisa terealisasi? Mungkin saja, mengingat Rothschild sudah menggalang kekuatan untuk merealisasikan niatnya.

    Selain mengandalkan kapabilitas dirinya, Nat Rothschild, yang merupakan keturunan dari keluarga Rothschild ini sudah menyusun konsorsiumnya sendiri. Pihak-pihak yang berada di belakang Rothschild pun bukan lah nama-nama yang bisa dipandang sebelah mata. Rothschild disebut-sebut berniat menggandeng Prabowo Subiakto, salah satu orang yang disebut-sebut salah satu kandidat presiden Indonesia untuk Pemilu 2012 mendatang.

    Prabowo juga menjabat sebagai ketua umum Partai Gerinda. Selain itu, Prabowo merupakan mantan menantu dari Presiden Soeharto. Adik Prabowo, Hashim Djojohadikusumo sudah menyatakan dukungannya untuk Rothschild. Selain itu, Rothschild disebut telah mengantongi dukungan dari investor Bumi Plc lainnya, yakni Schroders Plc, Standard Life Investments, Artemis Investment Management LLP, dan Abu Dhabi Investment Co.

    Rothschild pun telah meminta perusahaan investasi kelas kakap, Morgan Stanley, sebagai pendamping dalam menghadapi persoalan bisnisnya dengan Grup Bakrie. Tak hanya itu, taipan Robert Friedland juga telah setuju mengucurkan USD50 juta dan menjadi bagian dari konsorsium yang dipimpin Rothschild. Friedland, merupakan konglomerat yang namanya tidak asing di dunia tambang.

    Dengan ‘kekuatan’ barunya tersebut, Rothschild, yang sebelumnya mengundurkan diri dari Bumi mengajukan proposal tandingan senilai USD270 kepada Bumi Plc. Rothschild telah mengajukan proposal untuk menjawab langkah Bakrie, yang mengatakan akan membeli kembali 29 persen saham PT Bumi Resources Tbk (BUMI).

    Dalam proposal tersebut Rothschild akan menggelontorkan USD278 juta secara tunai, jika keluarga Bakrie dari sahamnya PLC Bumi, melalui konsorsium investasi yang dipimpin NR Investments. NR Investment bahkan bersedia menyuntikkan lebih banyak dana ke Bumi Plc, agar pemegang saham Indonesia lainnya Samin Tan, dan Rosan Perkasa Roeslani, dapat hengkang dari Bumi Plc.

    Saat ini, Samin Tan dan Roeslani memiliki saham di Bumi melalui investasi Recapital Advisors, dan PT Borneo Lumbung Energi & Metal Tbk (BORN). Recapital memiliki saham 13 persen di Bumi, sementara Borneo memiliki 23,8 persen. Borneo memegang sahamnya bersama Grup Bakrie.

    Langkah terbaru Rothschild ini adalah sebagai bentuk perlawanan atas proposal yang diajukan Grup Bakrie ke Bumi Plc, perusahaan asal London, Inggris yang awalnya dijalankan bersama oleh kedua kubu tersebut. Sebelumnya, Grup Bakrie mengajukan proposal, yakni untuk melepas kepemilikan di Bumi PLC sebesar 23,8 persen untuk ditukar dengan 10 persen kepemilikan di Bumi Resources.

    Pada proposal tahap kedua, Grup Bakrie akan membeli 18,9 persen sisa saham Bumi PLC di unit usaha Indonesia senilai USD278 juta atau setara Rp2,6 triliun (Rp9.600 per USD). Bakrie kemudian dapat mengendalikan 29 persen saham Bumi Resources dan tidak perlu berhubungan dengan Bumi PLC.

    Dalam proposal tahap ketiga, Bakrie akan membeli aset tambang lain milik Bumi PLC, yakni 85 persen saham di PT Berau Coal Energy senilai USD950 juta (Rp9,1 triliun). (wdi)

     
  • Virtual Chitchatting 5:24 AM on 2012/11/27 Permalink  

    Market Research on Hotel Industry in Indonesia

    By Sando Sasako
    Lead Consultant
    Advanced Advocacy Plus

    Jakarta, 27 November 2012 03.31

    Analysing hotel industry in Indonesia is a little bit tricky. Most analyses are heavily focused on the management of the hotel, rather than the ownerships of the hotel. Anyone can build and own hotel. But to operate and make it performed is another work and another job to do. Not every hotel owner can operate her own hotel(s).

    The most common hotel operation and management can be divided into 4 types of business models, that is pure management, franchised, leased-and-operated, and owner-operated.

    In 100% pure management system, the property owner pays the management fee based on revenues and profits, marketing fees, and royalty fee. The property owner is still involved as there are problems arising related to assets. Property owners usually and mostly are local developers or any consortium between property owners and worldwide investors.

    In a franchise system, owner of the brand hotel provides license to use the brand to the property owner. As a return, the property owner is obliged to pay the licensing fees, advices to hotel operationalisation, and joint services such as reservation system, loyalty programs, and various initiatives on sales and marketing. Franchisee may not comply to the standards of quality and hotel brand, or vice versa.

    In a leased-operated system, the hotel management as the lessee leases with fixed price to the property owner. The lessee works independently and still pays the operational and maintenance expenses.

    In an owner-operated system, the hotel is managed directly by the owner. Such hotels usually donot have an (internationaly recognised hotel) brand, are common and dominating, and have segmented its customers to middle-to-lesser class society. Such hotels often and usually lose their competitive advantages to other chained hotels and branded hotels. As a consequence, the property owners begin to sell their properties or use other brand hotel or rebranding through franchise program of economy/budget hotel chains.

    Tabel – 1: Some hotel chains in the world
    Accor Sofitel, Pullman, Motel 6, Novotel, Ibis, Studio 6
    Carlson Country Inn & Suites, Park Inn, Park Plaza, Radisson, Hotel Missoni
    Choice Hotels Ascend Collection, Cambria Suites, Clarion, Comfort Inn, Comfort Suites, EconoLodge, Mainstay Suites, Quality Inn, Rodeway Inn, Sleep Inn, Suburban Extended Stay Hotel
    Hilton Conrad Hotels, Doubletree, Embassy Suites, Hampton Inn and Hampton Inns & Suites, Hilton Garden Inn, Hilton Hotels & Resorts, Homewood Suites, Home2 Suites, Waldorf Astoria, Double Tree
    Hyatt Grand Hyatt, Park Hyatt, Hyatt Regency, Andaz, Hyatt, Hyatt Place, Hyatt Summerfield Suites
    InterContinental Crowne Plaza, Indigo, InterContinental, Candlewood Suites, Holiday Inn, Holiday Inn Express, Hotel Staybridge Suites
    Marriott JW Marriott, Renaissance, Courtyard, Fairfield, Marriott ExecuStay, Marriott Hotels & Resorts, Residence Inn, Ritz-Carlton, SpringHill Suites, TownePlace Suites
    Starwood Le Méridien, St. Regis, Westin Hotels, Sheraton, Aloft Hotels, Element by Westin, Four Points, W Hotels, The Luxury Collection
    Wyndham Wyndham Grand, Ramada, Howard Johnson’s, Baymont Inn & Suites, Days Hotel & Suites, Days Suites, Days Inn, Hawthorn Suites, Knights Inn, Microtel, Super 8, Travelodge, Wingate by Wyndham, Wyndham Hotels & Resorts
    Others Alila Hotels & Resorts, AmericInn, America’s Best Value Inn, Best Western, Drury Inn, Fairmont Hotels, Four Seasons, Kempinsky, Kimpton Hotels, La Quinta Inn, Loews Hotels, Masters Inn, Omni Hotels, Red Carpet Inn, Red Roof Inn, Scottish Inns,
    Timeshare Diamond Resorts International, Disney Vacation Club, Hilton Grand Vacations Company, Interval International, Marriott Vacation Club International, Marriott Vacations Worldwide Corporation, Westgate Resorts, WorldMark by Wyndham, Wyndham Vacation Resorts Asia-Pacific
    Extended Stay Extended Stay, Extended StayAmerica, Homestead Studio Suites Hotels, InTown Suites, Siegel Suites, Value Place
    Defunct Adam’s Mark, AmeriHost Inn, AmeriSuites, Jack Tar Hotels, Shoney’s Inn, Susse Chalet, Statler Hotels, Tage Inn
    Source: wikipedia

    The ISIC Issues

    Another problem in analysing hotel industry in Indonesia is that Indonesia has been using obsolete ISIC Rev.2 which was made in 1968. ISIC which stands for International Standard Industrial Classification of all Economic Activities, is defined by the United Nations Statistics Division and is a standard classification of economic activities (including both merchandise and services) arranged so that entities can be classified according to the activity they carry out.

    The first classification was approved in 1948 and is based on four levels. The following revisions have been made: ISIC Rev.1 (1958), ISIC Rev.2 (1968) and ISIC Rev.3.0 (1989). ISIC Rev.3.1 update, effective May 2002, supersedes ISIC Rev.3.0, and ISIC Rev.4 that is officially released on 11 August 2008.

    Browse:

    The ISIC Rev.4

    Download:

    • - includes corrections to the printed version

    The 2-digit ISIC Rev.4

    • A- Agriculture, forestry and fishing
      • 01 – Crop and animal production, hunting and related service activities
      • 02 – Forestry and logging
      • 03 – Fishing and aquaculture
    • B- Mining and quarrying
      • 05 – Mining of coal and lignite
      • 06 – Extraction of crude petroleum and natural gas
      • 07 – Mining of metal ores
      • 08 – Other mining and quarrying
      • 09 – Mining support service activities
    • C- Manufacturing
      • 10 – Manufacture of food products
      • 11 – Manufacture of beverages
      • 12 – Manufacture of tobacco products
      • 13 – Manufacture of textiles
      • 14 – Manufacture of wearing apparel
      • 15 – Manufacture of leather and related products
      • 16 – Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
      • 17 – Manufacture of paper and paper products
      • 18 – Printing and reproduction of recorded media
      • 19 – Manufacture of coke and refined petroleum products
      • 20 – Manufacture of chemicals and chemical products
      • 21 – Manufacture of basic pharmaceutical products and pharmaceutical preparations
      • 22 – Manufacture of rubber and plastics products
      • 23 – Manufacture of other non-metallic mineral products
      • 24 – Manufacture of basic metals
      • 25 – Manufacture of fabricated metal products, except machinery and equipment
      • 26 – Manufacture of computer, electronic and optical products
      • 27 – Manufacture of electrical equipment
      • 28 – Manufacture of machinery and equipment n.e.c.
      • 29 – Manufacture of motor vehicles, trailers and semi-trailers
      • 30 – Manufacture of other transport equipment
      • 31 – Manufacture of furniture
      • 32 – Other manufacturing
      • 33 – Repair and installation of machinery and equipment
    • D- Electricity, gas, steam and air conditioning supply
      • 35 – Electricity, gas, steam and air conditioning supply
    • E- Water supply; sewerage, waste management and remediation activities
      • 36 – Water collection, treatment and supply
      • 37 – Sewerage
      • 38 – Waste collection, treatment and disposal activities; materials recovery
      • 39 – Remediation activities and other waste management services
    • F- Construction
      • 41 – Construction of buildings
      • 42 – Civil engineering
      • 43 – Specialized construction activities
    • G- Wholesale and retail trade; repair of motor vehicles and motorcycles
      • 45 – Wholesale and retail trade and repair of motor vehicles and motorcycles
      • 46 – Wholesale trade, except of motor vehicles and motorcycles
      • 47 – Retail trade, except of motor vehicles and motorcycles
    • H- Transportation and storage
      • 49 – Land transport and transport via pipelines
      • 50 – Water transport
      • 51 – Air transport
      • 52 – Warehousing and support activities for transportation
      • 53 – Postal and courier activities
    • I- Accommodation and food service activities
      • 55 – Accommodation
      • 56 – Food and beverage service activities
    • J- Information and communication
      • 58 – Publishing activities
      • 59 – Motion picture, video and television programme production, sound recording and music publishing activities
      • 60 – Programming and broadcasting activities
      • 61 – Telecommunications
      • 62 – Computer programming, consultancy and related activities
      • 63 – Information service activities
    • K- Financial and insurance activities
      • 64 – Financial service activities, except insurance and pension funding
      • 65 – Insurance, reinsurance and pension funding, except compulsory social security
      • 66 – Activities auxiliary to financial service and insurance activities
    • L- Real estate activities
      • 68 – Real estate activities
    • M- Professional, scientific and technical activities
      • 69 – Legal and accounting activities
      • 70 – Activities of head offices; management consultancy activities
      • 71 – Architectural and engineering activities; technical testing and analysis
      • 72 – Scientific research and development
      • 73 – Advertising and market research
      • 74 – Other professional, scientific and technical activities
      • 75 – Veterinary activities
    • N- Administrative and support service activities
      • 77 – Rental and leasing activities
      • 78 – Employment activities
      • 79 – Travel agency, tour operator, reservation service and related activities
      • 80 – Security and investigation activities
      • 81 – Services to buildings and landscape activities
      • 82 – Office administrative, office support and other business support activities
    • O- Public administration and defence; compulsory social security
      • 84 – Public administration and defence; compulsory social security
    • P- Education
      • 85 – Education
    • Q- Human health and social work activities
      • 86 – Human health activities
      • 87 – Residential care activities
      • 88 – Social work activities without accommodation
    • R- Arts, entertainment and recreation
      • 90 – Creative, arts and entertainment activities
      • 91 – Libraries, archives, museums and other cultural activities
      • 92 – Gambling and betting activities
      • 93 – Sports activities and amusement and recreation activities
    • S- Other service activities
      • 94 – Activities of membership organizations
      • 95 – Repair of computers and personal and household goods
      • 96 – Other personal service activities
    • T- Activities of households as employers; undifferentiated goods- and services-producing activities of households for own use
      • 97 – Activities of households as employers of domestic personnel
      • 98 – Undifferentiated goods- and services-producing activities of private households for own use
    • U- Activities of extraterritorial organizations and bodies
      • 99 – Activities of extraterritorial organizations and bodies

    The ISIC Rev.3.0

    Revision 3.0, level 1 includes 17 sections identified by alphabetical letters A to Q, level 2 covers 62 divisions identified by two-digit numerical codes and level 3 is defined by 161 groups identified by three-digit numerical codes. The Table below shows the first two levels of Revision 3.0 and their equivalent in Revision 2.0.

    Table – 2: Levels 1 and 2 of ISIC Revision 3.0 and Revision 2.0

    Revision 3.0 Revision 2.0
    A – Agriculture, hunting and forestry 1 – Agriculture, Hunting, Forestry and Fishing
    01 – Agriculture, hunting and related service activities 11 – Agriculture and Hunting
    02 – Forestry, logging and related service activities 12 – Forestry and logging
    B – Fishing 13 – Fishing
    05 – Fishing, operation of fish hatcheries and fish farms; service activities incidental to fishing
    C – Mining and quarrying 2 – Mining and Quarrying
    10 – Mining of coal and lignite; extraction of peat 21 – Coal Mining
    11 – Extraction of crude petroleum and natural gas; service activities incidental to oil and gas extraction excluding surveying 22 – Crude Petroleum and Natural Gas Production
    12 – Mining of uranium and thorium ores 23 – Metal Ore Mining
    13 – Mining of metal ores 29 – Other Mining
    14 – Other mining and quarrying
    D – Manufacturing 3 – Manufacturing
    15 – Manufacture of food products and beverages 31 – Manufacture of Food, Beverages and Tobacco
    16 – Manufacture of tobacco products 32 – Textile, Wearing Apparel and Leather Industries
    17 – Manufacture of textiles 33 – Manufacture of Wood and Wood Products, Including Furniture
    18 – Manufacture of wearing apparel; dressing and dyeing of fur 34 – Manufacture of Paper and Paper Products, Printing and Publishing
    19 – Tanning and dressing of leather; manufacture of luggage, handbags, saddlery, harness and footwear 35 – Manufacture of Chemicals and Chemical, Petroleum, Coal, Rubber and Plastic Products
    20 – Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials 36 – Manufacture of Non-Metallic Mineral Products, except Products of Petroleum and Coal
    21 – Manufacture of paper and paper products 37 – Basic Metal Industries
    22 – Publishing, printing and reproduction of recorded media 38 – Manufacture of Fabricated Metal Products, Machinery and Equipment
    23 – Manufacture of coke, refined petroleum products and nuclear fuel 39 – Other Manufacturing Industries
    24 – Manufacture of chemicals and chemical products
    25 – Manufacture of rubber and plastics products
    26 – Manufacture of other non-metallic mineral products
    27 – Manufacture of basic metals
    28 – Manufacture of fabricated metal products, except machinery and equipment
    29 – Manufacture of machinery and equipment n.e.c.
    30 – Manufacture of office, accounting and computing machinery
    31 – Manufacture of electrical machinery and apparatus n.e.c.
    32 – Manufacture of radio, television and communication equipment and apparatus
    33 – Manufacture of medical, precision and optical instruments, watches and clocks
    34 – Manufacture of motor vehicles, trailers and semi-trailers
    35 – Manufacture of other transport equipment
    36 – Manufacture of furniture; manufacturing n.e.c.
    37 – Recycling
    E – Electricity, gas and water supply 4 – Electricity, Gas and Water
    40 – Electricity, gas, steam and hot water supply 41 – Electricity, Gas and Steam
    41 – Collection, purification and distribution of water 42 – Water Works and Supply
    F – Construction 5 – Construction
    45 – Construction 50 – Construction
    G – Wholesale and retail trade; repair of motor vehicles, motorcycles and personal and household goods 6 – Wholesale and Retail Trade and Restaurants and Hotels
    50 – Sale, maintenance and repair of motor vehicles and motorcycles; retail sale of automotive fuel 61 – Wholesale Trade
    51 – Wholesale trade and commission trade, except of motor vehicles and motorcycles 62 – Retail Trade
    52 – Retail trade, except of motor vehicles and motorcycles; repair of personal and household goods
    H – Hotels and restaurants
    55 – Hotels and restaurants 63 – Restaurants and Hotels
    I – Transport, storage and communications 7 – Transport, Storage and Communication
    60 – Land transport; transport via pipelines 71 – Transport and Storage
    61 – Water transport 72 – Communication
    62 – Air transport
    63 – Supporting and auxiliary transport activities; activities of travel agencies
    64 – Post and telecommunications
    J – Financial intermediation 8 – Financing, Insurance, Real Estate and Business Services
    65 – Financial intermediation, except insurance and pension funding 81 – Financial Institutions
    66 – Insurance and pension funding, except compulsory social security 82 – Insurance
    67 – Activities auxiliary to financial intermediation
    K – Real estate, renting and business activities 83 – Real estate and Business Services
    70 – Real estate activities
    71 – Renting of machinery and equipment without operator and of personal and household goods
    72 – Computer and related activities
    73 – Research and development
    74 – Other business activities
    L – Public administration and defence; compulsory social security
    75 – Public administration and defence; compulsory social security
    M – Education
    80 – Education
    N – Health and social work
    85 – Health and social work
    O – Other community, social and personal service activities 9 – Community, Social and Personal Services
    90 – Sewage and refuse disposal, sanitation and similar activities 91 – Public Administration and Defence
    91 – Activities of membership organizations n.e.c. 92 – Sanitary and Similar Services
    92 – Recreational, cultural and sporting activities 93 – Social and Related Community Services
    93 – Other service activities 94 – Recreational and Cultural Services
    P – Private households with employed persons
    95 – Private households with employed persons 95 – Personal and Household Services
    Q – Extra-territorial organizations and bodies
    99 – Extra-territorial organizations and bodies 96 – International and Other Extra-Territorial Bodies
    0 – Activities not Adequately Defined
    00 – Activities not adequately defined

    Most countries do not report FDI data in ISIC Rev 3.0 and hence some adaptations have been made in Investment Map.

    The main differences between Investment Map and ISIC Rev. 3.0 lie in the definitions of levels and the creation of additional residual categories, such as “Unspecified Secondary” or “Unspecified chemicals and chemical products” which have been introduced primarily in order to capture FDI data that cannot be classified accurately. For example, when a country only provides the total FDI data for the manufacturing sector, without any further breakdown, the data is allocated to industry “Unspecified Secondary”.

    Level 1 in Investment Map has been created in order to analyse the FDI and Trade data for the main sectors of the economy (see Table 2). For ease of use, economic acitivities are refered to as industries in Investment Map.

    Table – 3: Levels 1 and 2 of economic acitivities (industries) in Investment Map and equivalent ISIC Rev.3 code

    Index ISIC Rev.3 code Level of aggregation Label (English)
    1 0 Total (merchandise & services)
    2 1 Unspecified Total (merchandise & services)
    3 A-B-C 1 Primary
    4 A 2 Agriculture and hunting
    11 B 2 Forestry and Fishing (PRODUCTS)
    15 C 2 Mining and quarrying
    27 11 2 Petroleum
    31 2 Unspecified primary
    32 D 1 Secondary
    33 15 2 Food,beverages and tobacco
    42 17 2 Textiles, clothing and leather
    52 20 2 Wood and wood products
    58 22 2 Publishing, printing and reproduction of recorded media
    63 23 2 Coke, petroleum products and nuclear fuel
    68 24 2 Chemicals and chemical products
    74 25 2 Rubber and plastic products
    79 26 2 Non-metallic mineral products
    83 27 2 Metal and metal products
    91 29 2 Machinery and equipment
    96 31 2 Electrical and electronic equipment
    110 33 2 Precision instruments
    115 34 2 Motor vehicles and other transport equipment
    125 36 2 Other manufacturing
    129 37 2 Recycling
    134 2 Unspecified secondary
    135 E-Q 1 Tertiary
    136 40 2 Electricity, gas and water
    142 45 2 Construction
    149 G 2 Wholesale and retail trade
    170 55 2 Hotels and restaurants
    174 I 2 Transport, storage and communications
    178 J 2 Finance
    186 K 2 Business activities
    209 75 2 Public administration and defence
    214 80 2 Education
    220 85 2 Health and social services
    225 N 2 Community, social and personal service activities
    236 93 2 Other services
    238 2 Unspecified tertiary
    236 2 Mixed goods (trade data)
    237 2 Transportation services (trade data)
    239 2 Other commercial services (trade data)
    239 1 Unspecified total (merchandise trade)

    The third level of economic activities and the labels of industries are available for download in Spanish and French in Excel format (size: 96 KB) and an Open Document format (size: 32 KB).

    Data on trade in services in Investment Map presently cover the three broad categories of commercial services, defined by the IMF: travel services, transportation services and other commercial services. These three categories do not match with the ISIC nomenclature and have been consequently added as new industries in Level 2.

    The ISIC Rev.2.0

    1 – Agriculture, Hunting, Forestry and Fishing

    o    11 – Agriculture and Hunting

    o    12 – Forestry and logging

    o    13 – Fishing

    2 – Mining and Quarrying

    o    21 – Coal Mining

    o    22 – Crude Petroleum and Natural Gas Production

    o    23 – Metal Ore Mining

    o    29 – Other Mining

    3 – Manufacturing

    o    31 – Manufacture of Food, Beverages and Tobacco

    o    32 – Textile, Wearing Apparel and Leather Industries

    o    33 – Manufacture of Wood and Wood Products, Including Furniture

    o    34 – Manufacture of Paper and Paper Products, Printing and Publishing

    o    35 – Manufacture of Chemicals and Chemical, Petroleum, Coal, Rubber and Plastic Products

    o    36 – Manufacture of Non-Metallic Mineral Products, except Products of Petroleum and Coal

    o    37 – Basic Metal Industries

    o    38 – Manufacture of Fabricated Metal Products, Machinery and Equipment

    o    39 – Other Manufacturing Industries

    4 – Electricity, Gas and Water

    o    41 – Electricity, Gas and Steam

    o    42 – Water Works and Supply

    5 – Construction

    o    50 – Construction

    6 – Wholesale and Retail Trade and Restaurants and Hotels

    o    61 – Wholesale Trade

    o    62 – Retail Trade

    o    63 – Restaurants and Hotels

    7 – Transport, Storage and Communication

    o    71 – Transport and Storage

    o    72 – Communication

    8 – Financing, Insurance, Real Estate and Business Services

    o    81 – Financial Institutions

    o    82 – Insurance

    o    83 – Real estate and Business Services

    9 – Community, Social and Personal Services

    o    91 – Public Administration and Defence

    o    92 – Sanitary and Similar Services

    o    93 – Social and Related Community Services

    o    94 – Recreational and Cultural Services

    o    95 – Personal and Household Services

    o    96 – International and Other Extra-Territorial Bodies

    0 – Activities not Adequately Defined

    o    00 – Activities not adequately defined

    Some Files of Indonesian Hotel Companies

    Below is the list of companies operating in the business of hotels, tours & travels, property development, and building constructions:

    1. BUVA, Bukit Uluwatu Villa Tbk, ipo, 12072010, http://www.bukituluwatuvilla.com, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/BUVA/BUVA_LKT_Des_2010.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/BUVA/SPD.pdf
    2. GWCM, Grahamas Citrawisata Tbk., hotel in bkt, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/GMCW/GMCW_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/GMCW/SPD.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/GMCW/GMCW_LKT_Des_2010.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/GMCW/SPD.pdf
    3. HOME, Hotel Mandarine Regency Tbk., http://www.goodwayhotel.com, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/HOME/HOME_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/HOME/HOME_LKT_Des_2010.pdf
    4. SHID, Hotel Sahid Jaya Tbk., http://www.hotelsahidjaya.com, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/SHID/SHID_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/SHID/SHID_LKT_Des_2010.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/SHID/SPD.pdf
    5. INPP, Indonesian Paradise Property Tbk., http://www.theparadise-group.com, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/INPP/INPP_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/INPP/SPD.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/INPP/INPP_LKT_Des_2010_Revisi.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/INPP/SPD_Revisi.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/INPP/INPP_LKT_Des_2010.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/INPP/SPD.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/INPP/Opini.pdf
    6. JSPT, Jakarta Setiabudi Internasional Tbk., http://www.jsi.co.id, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/JSPT/JSPT_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/JSPT/SPD.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/JSPT/JSPT_LKT_Des_2010.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/JSPT/SPD.pdf
    7. MAMI, Mas Murni Indonesia Tbk., http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/MAMI/MAMI%20LK%20Q3.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/MAMI/MAMI_LKT_Des_2010.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/MAMI/SPD.pdf

    1. PGLI, Pembangunan Graha Lestari Indah Tbk., http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/PGLI/PGLI_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/PGLI/SPD.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PGLI/PGLI_LKT_31_Dec_2010.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PGLI/SPD.PDF
    2. PJAA, Pembangunan Jaya Ancol Tbk., http://www.ancol.com, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/PJAA/PJAA_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PJAA/Report%20PT%20PJA%20Konsol%202010.pdf
    3. PLIN, Plaza Indonesia Realty Tbk., http://www.plazaindonesia.com, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/PLIN/PLIN_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PLIN/PLIN_LKT_DES_2010.pdf
    4. PNSE, Pudjiadi & Sons Estate Tbk., http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/PNSE/PNSE_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/PNSE/SPD.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PNSE/PNSE_LKT_Des_2010_Revisi_Kedua.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PNSE/SPD_Revisi_Kedua.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PNSE/PNSE_LKT_Des_2010_Revisi.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PNSE/SPD_Revisi.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PNSE/PNSE_LKT_Des_2010.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PNSE/SPD.pdf
    5. PUDP, Pudjiadi Prestige Limited Tbk., http://www.pudjiadiprestige.co.id, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/PUDP/PUDP_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PUDP/PUDP_LKT_Des_2010_Revisi.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PUDP/PUDP_LKT_Des_2010.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PUDP/SPD.pdf
    6. PSKT, Pusako Tarinka Tbk., http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202011/TW3/PSKT/PSKT_LK_TW_III_Sept_2011.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PSKT/PSKT_LKT_Des_2010.pdf, http://202.155.2.90/corporate_actions/new_info_jsx/jenis_informasi/01_laporan_keuangan/02_Soft_Copy_Laporan_Keuangan/Laporan%20Keuangan%20Tahun%202010/Audit/PSKT/SPD.pdf

    1. ANTA, Anta Express Tour & Travel Service Tbk., http://www.antatour.com
    2. BAYU, Bayu Buana Tbk., http://www.bayubuanatravel.com
    3. PDES, Destinasi Tirta Nusantara Tbk., http://www.panorama-tours.com
    4. PANR, Panorama Sentrawisata Tbk., http://www.panorama-leisure.co.id
    5. SMMT, Eatertainment International Tbk., http://www.paparonspizza.com
    6. FAST, Fast Food Indonesia Tbk., http://www.kfcindonesia.com
    7. PSAB, J Resources Asia Pasifik Tbk (Pelita Sejahtera Abadi Tbk.), http://www.jresources.com
    8. PTSP, Pioneerindo Gourmet International Tbk. (Putra Sejahtera Pioneerindo), http://www.cfcindonesia.com

    ICON, Island Concepts Indonesia Tbk., http://www.islandconcepts.com


    PROPERTY AND REAL ESTATE

    1. APLN, Agung Podomoro Land Tbk, http://www.agungpodomoroland.com
    2. ASRI, Alam Sutera Realty Tbk., http://www.alam-sutera.com
    3. ELTY, Bakrieland Development Tbk., http://www.bakrieland.com
    4. BAPA, Bekasi Asri Pemula Tbk., http://www.bekasiasri.com
    5. BIPP, Bhuwanatala Indah Permai Tbk., http://www.bipp.co.id
    6. BKDP, Bukit Darmo Property Tbk., http://www.bukitdarmoproperty.com
    7. BCIP, Bumi Citra Permai Tbk. http://www.bumicitrapermai.com
    8. BSDE, Bumi Serpong Damai Tbk., http://www.bsdcity.com
    9. CTRA, Ciputra Development Tbk., http://www.ciputradevelopment.com
    10. CTRP, Ciputra Property Tbk., http://www.ciputraproperty.com
    11. CTRS, Ciputra Surya Tbk., http://www.ciputrasurya com
    12. CKRA, Citra Kebun Raya Agri Tbk., http://www.citra-agri.com
    13. COWL, Cowell Development Tbk., http://www.cowelldev.com
    14. SCBD, Danayasa Arthatama Tbk., http://www.scbd.com
    15. DART, Duta Anggada Realty Tbk., http://www.dutaanggada.com
    16. DUTI, Duta Pertiwi Tbk., http://www.simasred.com, http://202.155.2.90/Performance_Summary/DUTI.pdf, http://202.155.2.90/Performance_Summary/DPNS.pdf
    17. FMII, Fortune Mate Indonesia Tbk
    18. KPIG, Global Land Development Tbk., http://www.globalland.co.id
    19. GMTD, Gowa Makassar Tourism Development Tbk., http://www.tanjungbunga.com
    20. MORE, Indonesia Prima Property Tbk. (Ometraco, Triyasa Tamihan)
    21. DILD, Intiland Development Tbk., http://www.intiland.com
    22. JIHD, Jakarta International Hotel & Dev. Tbk., http://www.jihd.co.id
    23. JRPT, Jaya Real Property Tbk., http://www.jayaproperty.com
    24. KIJA, Kawasan Industri Jababeka Tbk., http://www.jababeka.com
    25. LCGP, Laguna Cipta Griya Tbk.
    26. LAMI, Lamicitra Nusantara Tbk., http://www.lamicitra.co.id
    27. LPCK, Lippo Cikarang Tbk., http://www.lippo-cikarang.com
    28. LPKR, Lippo Karawaci Tbk., http://www.lippokarawaci.co.id
    29. MKPI, Metropolitan Kentjana Tbk., http://www.pondokindahgroup.co.id
    30. MTLA, Metropolitan Land Tbk., ipo, 20062011
    31. MDLN, Modernland Realty Ltd. Tbk., http://www.modernland.co.id
    32. PTRA, New Century Development Tbk., delisted, 24012011
    33. PWON, Pakuwon Jati Tbk., http://www.pakuwon.com
    34. PWSI, Panca Wiratama Sakti Tbk.
    35. GPRA, Perdana Gapuraprima Tbk., http://www.gapuraprima.com
    36. RBMS, Ristia Bintang Mahkotasejati Tbk.
    37. RDTX, Roda Vivatex Tbk., http://www.rodavivatex.co.id
    38. BKSL, Sentul City Tbk., http://www.sentulcity.co.id
    39. SMRA, Summarecon Agung Tbk., http://www.summarecon.com
    40. SIIP, Suryainti Permata Tbk., http://www.suryainti.com
    41. SMDM, Suryamas Dutamakmur Tbk., http://www.rancamayaestate.com, http://www.rancamaya.com

    BUILDING CONSTRUCTION

    1. ADHI, Adhi Karya (Persero) Tbk., http://www.adhi.co.id
    2. DGIK, Duta Graha Indah Tbk., http://www.dutagraha.com
    3. JKON, Jaya Konstruksi Manggala Pratama Tbk., http://www.jayakonstruksi.com
    4. PTPP, PP (Persero) Tbk, http://www.pt-pp.com
    5. SSIA, Surya Semesta Internusa Tbk., http://www.suryainternusa.com
    6. TOTL, Total Bangun Persada Tbk., http://www.totalbp.com
    7. WIKA, Wijaya Karya (Persero) Tbk., http://www.wika.co.id

    For further information:
    Contact us at +62-812.8056.516, +62-21-3218.7118
    Email us to aapluz @ yahoo.co.id

     
  • Virtual Chitchatting 1:16 AM on 2012/11/24 Permalink  

    Softwares to read and edit ePub and other e-books

    e-book formats

    Archos Diffusion Archos Reader; aeh
    Broadband eBooks (BBeB) Sony media; lrf; lrx
    Comic Book Archive file compressed images; cbr (RAR); .cbz (ZIP); .cb7 (7z); .cbt (TAR); .cba (ACE)
    Compiled HTML Microsoft Compiled HTML Help; .chm
    DAISY – ANSI/NISO Z39.86 DAISY
    Desktop Author DNL Reader; .dnl; .exe
    DjVu DjVu; .djvu
    EPUB IDPF/EPUB; .epub
    eReader (Palm Digital Media/Peanut Press) Palm Media; .pdb
    FictionBook (Fb2) FictionBook; .fb2
    Founder Electronics Apabi Reader; .xeb; .ceb
    Hypertext Markup Language Hypertext; .htm; .html
    iBook (Apple) iBook; .ibooks
    IEC 62448 IEC 62448
    KF8 (Amazon Kindle) Kindle; .azw; .kf8
    Microsoft LIT Microsoft Reader; .lit
    Mobipocket Mobipocket; .prc; .mobi
    Multimedia eBooks Eveda; .exe or .html
    Newton eBook Newton eBook; .pkg
    Open Electronic Package Open eBook; .opf
    Portable Document Format Adobe Portable Document Format; .pdf
    Plain text files text; .txt
    Plucker Plucker; .pdb
    PostScript PostScript; .ps
    SSReader SSReader; .pdg
    TealDoc TealDoc; .pdb
    TEBR TEBR; .tebr
    Text Encoding Initiative TEI Lite; .xml
    TomeRaider TomeRaider; .tr2; .tr3

    ePub Readers and Editors

    1. ABBYY FineReader, Windows (Editor)
    2. Adobe Digital Editions (Desktop), http://www.adobe.com/products/digitaleditions/
    3. Adobe InDesign (Editor)
    4. Adobe RoboHelp, Windows (Editor)
    5. Aldiko (Mobile)
    6. Aquafadas Digital Publishing System, Windows, Mac OS X (Editor)
    7. Atlantis Word Processor (Editor)
    8. Azardi (Desktop/Mobile )
    9. Blio (Desktop/Mobile)
    10. Bluefire (Mobile)
    11. BlueGriffon EPUB Edition, Windows, Mac OS X, GNU/Linux (Editor)
    12. BookGlutton (Reader)
    13. Booktype, Web (Editor)
    14. Bookworm (Desktop/Mobile)
    15. Calibre  (Editor) (Desktop/Mobile), http://calibre-ebook.com/download
    16. Cool Reader (Desktop), http://coolreader.org/e-index.htm
    17. dotReader (abandoned) (Desktop/Mobile)
    18. eCub (Editor)
    19. eLML, Windows, Mac OS X, GNU/Linux (Editor)
    20. ePubIt (Editor)
    21. EPUBReader FireFox extension (Desktop), https://addons.mozilla.org/en-US/firefox/addon/epubreader/, https://addons.mozilla.org/en-US/firefox/addon/45281, https://addons.mozilla.org/firefox/downloads/latest/45281/addon-45281-latest.xpi
    22. FB Reader (Desktop/Mobile), http://www.fbreader.org/win32, http://www.fbreader.org/downloads.php
    23. Feedbooks, Web (Editor)
    24. Google Books (Reader)
    25. Help & Manual, Windows (Editor)
    26. HelpNDoc, Windows (Editor)
    27. Ibis (Desktop/Mobile)
    28. iBooks (Mobile)
    29. iBooks Author, Mac OS X (Editor)
    30. IGP:Digital Publisher, Web (Editor)
    31. iStudio Publisher, Mac OS X (Editor)
    32. Kitabu (Reader)
    33. KooBits (Desktop)
    34. Lexcycle Stanza (Reader)
    35. Lucidor (Desktop)
    36. Lulu.com, Web (Editor)
    37. Madcap Flare, Windows (Editor)
    38. Magic Scroll (Desktop/Mobile)
    39. Mobipocket (Desktop/Mobile), http://www.mobipocket.com/en/downloadsoft/productdetailsreader.asp
    40. Nook (Desktop/Mobile)
    41. Okular (Reader)
    42. Openberg (Desktop)
    43. oXygen XML Editor, Mac OS X, Windows, Linux (Editor)
    44. Padilicious (Editor)
    45. Pages, Mac OS X (Editor)
    46. QuarkXPress, Mac OS X, Windows (Editor)
    47. Raccoon Reader
    48. Scrivener, Windows, Mac OS X (Editor)
    49. Serif PagePlus X6, Windows (Editor)
    50. Sigil, Windows, GNU/Linux, Mac OS X (Editor)
    51. Sony Reader Library (Desktop/Mobile), http://ebookstore.sony.com/download/
    52. Stanza (Mobile)
    53. STDU Viewer
    54. Sumatra PDF
    55. uread (Desktop/Mobile)

    References

    Sources

    1. http://download.epubreader.info/download.php
    2. http://nchc.dl.sourceforge.net/project/crengine/CoolReader3/cr3-3.0.56/cr3-qt-win32-3.0.56-42.zip
    3. http://calibre-ebook.googlecode.com/files/calibre-0.9.5.msi
    4. http://epingsoft.com/down/ePubMakerSetup.exe
    5. http://nchc.dl.sourceforge.net/project/universalreader/UniversalReader1.2/version%201.2/7z1.3.exe
    6. https://addons.cdn.mozilla.net/storage/public-staging/45281/epubreader-1.4.2.1-sm+fx.xpi
     
  • Virtual Chitchatting 1:11 AM on 2012/11/24 Permalink  

    sby2boediono, gue perlu duit untuk pemilu 2009. boediono2sby, gue bisa ngakalin sistem perbankan indonesia, apa untungnya buat gue? sby2boediono, loe jadi wapres 

     
  • Virtual Chitchatting 11:32 AM on 2012/11/23 Permalink  

    The passing away of Mata Hari Actress. RIP, Sylvia Kristel 



    Kristel in 1973


    Kristel in 2009.

    Sylvia Maria Kristel (28 September 1952 – 18 October 2012) was a Dutch actress who performed in over 50 films, and was best known for playing the lead character in four of the seven Emmanuelle films.

    A heavy smoker of unfiltered cigarettes from the age of eleven, Kristel was diagnosed with throat cancer in 2001 and underwent three courses of chemotherapy, and surgery after the disease spread to her lungs. On 12 June 2012, she suffered a stroke and was hospitalized in critical condition.

    She died in her sleep, aged 60, from esophageal and lung cancer. She was survived by her son, Arthur Claus, and her younger sister, Marianne.

    Kristel was born in Utrecht, Netherlands, the elder daughter of an innkeeper, Jean-Nicholas Kristel, and his wife Piet. In her 2006 autobiography, Nue, she stated that she was sexually abused by an elderly hotel guest when she was nine years old, an experience she otherwise refused to discuss. Her parents divorced when she was 14 years old after her father abandoned the family for another woman. “It was the saddest thing that ever happened to me”, she said of the experience of her parents’ separation.

    Kristel began modeling when she was 17. She entered the Miss TV Europe contest in 1973 and won. Multilingual, she spoke Dutch, English, French, German and Italian. Kristel gained international attention in 1974 for playing the title character in the softcore film Emmanuelle, which remains one of the most successful French films ever produced. After the success of Emmanuelle, she often played roles that capitalised on that sexually provocative image, most notably starring in an adaptation of Lady Chatterley’s Lover (1981), and a nudity-filled biopic of the World War I spy in Mata Hari (1985). Her Emmanuelle image followed her to the United States, where she played Nicole Mallow, a maid who seduces a teenage boy, in the sex comedy Private Lessons (1981). Another mainstream American film appearance was a brief comic turn in the Get Smart revival film The Nude Bomb in 1980.

    Although Private Lessons was one of the highest-grossing independent films of 1981 (ranking #28 in US domestic gross), Kristel reportedly saw none of the profits and continued to appear in movies and last played Emmanuelle in the early 1990s. In May 1990, she appeared in the television series My Riviera, filmed at her home in Saint-Tropez and offering insights of her life and motivations in an interview with writer-director Michael Feeney Callan. In 2001, she played a small role in Forgive Me, Dutch filmmaker Cyrus Frisch’s debut. In May 2006, Kristel received an award at the Tribeca Film Festival, New York for directing the animated short film Topor and Me, written by Ruud Den Dryver. The award was presented by Gayle King. After a hiatus of eight years, she acted in the film, Two Sunny Days (2010), and that same year, she played the mother of the Trio Lescano in the TV series The Swing Girls.

    http://en.wikipedia.org/wiki/Sylvia_Kristel

     
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