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
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. 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 F...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
I’m going to cry tonight, long and hard. I’ll do so as I remember and mourn Jeremy Geelan. I knew Jeremy for almost 20 years, from the time he showed up one day at Cloud Expo’s headquarters in Bergen County, New Jersey, and went to work. The show wasn’t called Cloud Expo then, of course – it was still known as Java Edge, a pioneering event that grabbed developers, architects, and enterprise IT users alike for twice-yearly confabs. Jeremy didn’t have a job there, or even a job offer. He was s...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...