Bumi Resources (Bakrie Group)
PT Bumi Resources Tbk is an Indonesian holding company majority-owned by the Bakrie Group and primarily engaged in coal mining. It is Indonesia's largest coal miner by production volume and boasts of being "the largest thermal coal exporter in the world."
Its coal mining subsidiaries and associates include:
- PT Kaltim Prima Coal
- PT Arutmin Indonesia.
Bumi produces thermal coal from mines in several areas of Indonesia, such as Sangatta, Bengalon, Senakin, Satui, Mulia, Batulicin, Asam-asam, Kintap, Loa Ulung, Tabang, Muara Enim and Penukal Abab Lematang Ilir. Most of its coal is used as fuel for coal-fired power plants.
Bumi has two non-coal business segments:
- minerals (operated by PT Bumi Resources Minerals Tbk)
- oil & gas exploration (operated by Gallo Oil (Jersey) Ltd).
In May 2017, Bumi Resources completed a debt restructuring due defaults on some of its bonds and loans due in 2014, 2016 and 2017. Creditors and bondholders will receive a mix of new senior notes, mandatory convertible bonds, equity and contingent value rights. [See Daniel Stanton, International Financing Review, (20 May 2017) "Bumi workout nears finish line"]
Shareholders
| Investor | Ownership (%) | Date |
|---|---|---|
| 1. China Investment Corporation | 22.67 | 31 Mar 2019 |
| 2.BlackRock Institutional Trust Company | 1.20 | 30 Jun 2019 |
| 3. Ruffer (Asia Ltd.) | 0.40 | 28 Feb 2019 |
| 4. BlackRock Financial Management | 0.28 | 31 Mar 2019 |
| 5. Dimensional Fund Advisors | 0.22 | 31 Mar 2019 |
| 6. BlackRock Asset Management Ireland Limited | 0.18 | 30 Jun 2019 |
| 7. Van Eck Associates Corporation | 0.16 | 30 Jun 2019 |
| 8. Northern Trust Investments | 0.10 | 30 Jun 2019 |
| 9. Nuveen LLC | 0.04 | 31 May 2019 |
| 10. BlackRock Advisors (UK) Limited | 0.04 | 30 Jun 2019 |
Loans
| Institution | Total Aggregate Debt (US$ millions) | Number of Deals | Latest Year of Deal |
|---|---|---|---|
| Credit Suisse | 364 | 3 | 2014 |
| China Development Bank | 338 | 2 | 2012 |
| Bank of China | 300 | 1 | 2012 |
| UBS | 300 | 3 | 2012 |
| Axis Bank | 200 | 1 | 2011 |
| Bank of America | 200 | 1 | 2011 |
| Barclays | 200 | 1 | 2011 |
| Deutsche | 175 | 4 | 2011 |
| JP Morgan Chase | 130 | 2 | 2012 |
| Castleford Investment Holdings | 110 | 2 | 2013 |
| ICICI | 100 | 1 | 2010 |
| WestLB | 88 | 2 | 2011 |
| Raiffeisen Bank International | 80 | 1 | 2014 |
| Bank of India | 50 | 1 | 2010 |
| Export-Import Bank of the United States | 18 | 1 | 2010 |
Bonds
Disclaimer
Please note the above information is from the companies’ available annual and financial reports (2010 to 2018) and websites, as well as other public and subscription-based information sources.
Occasionally, where information is incomplete, assumptions must be made about data and these were made in a consistent manner and in good faith. While we endeavoured to gather and include all relevant deals, we cannot guarantee the completeness of the information presented.