“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Saturday, December 13, 2008

San Miguel still keen on Indonesian mining venture

By Donnabelle L. Gatdula, The Philippine Star | 12/12/2008 12:49 PM 

Food and beverage conglomerate San Miguel Corp. (SMC) is still keen on investing in energy-related businesses abroad, particularly a mining venture in Indonesia. 

In a Platts International Daily Coal Trader Report, it said SMC is still holding discussions with Indonesia-based mining firm Bakrie & Brothers (BNBR) over the sale of Bumi Resources. Platts is the energy publishing arm of the McGraw Hill Group of the US. It covers oil, coal, nuclear, petrochemicals, metals and publishes the Mean of Platts Singapore which is widely used as a benchmark for oil contracts in Asia. 

Bumi owns the Kaltim Prima and Arutmin mines in Kalimantan Island in Indonesia. 

The report said SMC is just waiting for the decision of BNBR. “SMC is in discussion with Bakrie. The ball is now in the hands of Bakrie & Brothers,” it said. 

According to the report, SMC’s admission that it is in talks with the Indonesian firm came after a disclosure by BNBR that it has reached an ageement with Northstar Pacific to form a strategic partnership, transforming the sales and purchase agreement entered on Oct. 31 into a buyout arrangement to take over BNBR’s collateralized assets from a firm called Oddickson Finance. 

However, Platts said the Nov. 28 Bakrie statement stated that no equity sale has yet taken place with regard to Bumi Resources. 

The report quoted the statement of BNBR which said that “By this route, Northstar indirectly retains control of the portfolio assets of BNBR and be in a position to conclude their strategic interest in Bumi Resources.” 

Bakrie, the report said, was also quoted as saying that “significant portion of BNBR’s loan facility provided by Oddickson is being taken over by Northstar which will form the basis to establish a joint venture company with BNBR. This company would,  in turn, own the BNBR collateralized assets presently in custody of Oddickson. BNBR confirms that there is full understanding reached with Northstar for this strategic partnering arrangement which would be in the best interest of the stakeholders of BNBR and Northstar.” 

SMC disclosed its planned venture with the Indonesian mining company early last month. 

Aside from BNBR, SMC has bought stocks of the country’s largest privately-owned power distribution company, Manila Electric Co. (Meralco). 

Southeast Asia’s largest food and drinks corporation is also taking a majority stake in Petron Corp., the Philippines’ largest oil refiner. 

Forming a new unit solely for its energy ventures (San Miguel Energy Corp.), SMC it also has plans to bid for the 10- percent stake of state-owned PNOC-Exploration Corp. in the Malampaya gas project. 

SMC also participated in the bidding of some assets of the National Power Corp. (Napocor), including the National Transmission Corp. (TransCo) and in the sale of PNOC-Energy Development Corp.

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