Welcome!

News Feed Item

PT Benakat Petroleum Energy (BIPI) to Complete Acquisition of AMI

Jakarta, Indonesia, Nov 23, 2012 - (ACN Newswire) - PT Benakat Petroleum Energy Tbk (the "Company"), an integrated company led by a consortium that consists of Mr. Omar Putihrai and Mr. Halim Jusuf among others, will finally complete its acquisition of PT Astrindo Mahakarya Indonesia, a company engaged in the field of integrated coal chain services with ownership of coal mining infrastructure, such as coal port and over-land conveyor infrastructure.

This acquisition is a realization of the Conditional Sales and Purchase Agreement dated December 19, 2011 between the Company and PT Indrokreasi Nuansa Sejahtera, a company under the control of Sennelius Thong, a member of the Lippo Group companies.

For the purpose of this acquisition, the Company shall hold an Extraordinary General Meeting of Shareholders (EGMS) and a Public Expose on December 14, 2012 to request the approval of the shareholders. The Company made the announcement and conveyance of acquisition information disclosure on November 14, 2012.

"After undergoing a long process, the Parties reached an agreement on the acquisition of AMI and with the consent of the shareholders at the EGMS on December 2012, we shall soon complete it," said Michael Wong, Director of the Company.

The value of the AMI acquisition is USD 600,000,000 (six hundred million United States Dollar), which under the regulation of Bapepam, constitutes a material transaction that requires the prior approval of the shareholders, as its value exceeds 50% of the Company's equity.

Furthermore, Michael added that the acquisition of AMI would contribute significantly to the Company's growth with the increasing earnings and profitability of the Company and increase the value for shareholders.

"With the acquisition of AMI, the Company shall have participation in the integrated coal mining infrastructure assets in the form of coal port with a total capacity of 48 million tons per year and over-land conveyor infrastructure to provide integrated coal chain services with an estimated total capacity of 73,5 metric tons per year, so that the earnings of the Company are projected to drastically increase from USD 40 million in 2012 to USD 415 million in 2013, while the Net Income will jump from USD 3 million in 2012 to USD 159 million in 2013 and EBITDA in 2013 will increase from the estimated EBITDA 2012 of USD 9 million to USD 365 million" said Michael Wong.

"In addition, ever since listed on the Indonesian Stock Exchange, we have made several strategic acqusitions to fortify our business model, inter alia, through the acquisition of 37,67% of shares of PT Elnusa Tbk (ELSA), 10,3% of shares of PT Buana Listya Tama Tbk (BULL) and 100% of shares of Patina Group Ltd," concluded Michael Wong.

About PT Benakat Petroleum Energy Tbk

PT Benakat Petroleum Energy (IDX:BIMI) is an integrated energy company, which has investment and asset portfolios in the mining and energy sector, and supported by integrated oil and gas services. The Company listed its shares on the Indonesian Stock Exchange on February 10, 2010, and currently the total amount of outstanding shares of the Company is 35,043,851,428 with a total market capitalization of Rp. 7,7 trillion. For more information, please see www.benakat.co.id.

Source: PT Benakat Petroleum Energy Tbk

Contact:
Dina Andini
Corporate Secretary,
PT Benakat Petroleum Energy Tbk.
Tel: +62-21-576-4661
Email: [email protected]




Copyright 2012 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Imagine having the ability to leverage all of your current technology and to be able to compose it into one resource pool. Now imagine, as your business grows, not having to deploy a complete new appliance to scale your infrastructure. Also imagine a true multi-cloud capability that allows live migration without any modification between cloud environments regardless of whether that cloud is your private cloud or your public AWS, Azure or Google instance. Now think of a world that is not locked i...
Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls "Bimodal IT," where business struggle to apply modern tools and practices to traditional monolithic applications. But these existing assets can be modernized and made more efficient without havin...