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eFORCE HOLDINGS LIMITED

943

(i)

(ii)

Guangdong Securities Limited

877
68
3008 252253

2826
48

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . .

78

. . . . . . . . . . . . . . . . . . . . . .

80

PT KDB. . . . . . . . . . . . . . . . . . . . . . .

92

PT Bara. . . . . . . . . . . . . . . . . . . . . . .

105

. . . . . . . . . . . . . .

117

. . . . . . . . . . . . . . . . . . . . . . . . .

127

PT Bara . . . . . . . . . . . . . . . . . . . . .

142

. . . . . . . . . . . . . . . . . . . . . . .

211

. . . . . . . . . . . . . . . . . . .

236

. . . . . . . . .

245

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

246

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

252

AMDAL

Analisis Mengenai Dampak Lingkungan Hidup


Analysis Concerning Environmental ImpactPT
Bara
( 2009 32)

AMDAL

AMDAL

14,000,000,000
300,000,000 6,000,000,000
1,000,000,00020,000,000,000

CIMVAL

200740

AB

DGMCG

(Ministry of Energy and


Mineral Resources)
(Directorate General of Mineral, Coal, and Geothermal)

Early State

Early State Enterprises Limited

PT Bara

GAR

LimLow

IUP

Izin Usaha Pertambangan

Hiswara Bunjamin & Tandjung

JORC

JORC

JORC

KP

kuasa pertambangan

(i) PT BaraLowPT Bara



2,061,009,000 (ii)
Low

108,429

240

MEMR

(Ministry of Energy and


Mineral Resources)

18

Lim

Lim Kim Chai

Low

Low Thiam Herr

PT Bara

PT Bara Utama Persada Raya


PT Bara99.98%
PT KDB PT Bara 0.02%
PT BaraPT Bara

PT Bara

Regent of East BaritoPT BaraIUP


2009 545
PT Bara
PT Bara

PT Bara

AMDAL090/1.824.51

PT Bara

PT BaraPT Bara

PT Bara

Dusun TengahRaren Batuah


PT Bara

PT Bara

PT BaraPT Bara

PT KDB

PT Karya Dasar Bumi


PT Bara99.98%
PT KDB99%
1%
PT KDB1%
Big Advance Holdings
Limited

Smart Guard Limited

Roma Oil and Mining Associates Limited

100 1.00
100%

200,000,000 5%
A

300,000,0002%
B

571

(i) (ii)
(iii)
(iv)

0.05

Fastport Investments Holdings Limited


PT KDB
99%

( PT KDBPT
Bara)

VALMIN18
PT
Bara

VALMIN

100%

71,000,000553,800,000

CIMVAL 18

Gloss Rise Limited


65%

14A

1.007.8
1.00 1.1838
1.00 1,160

eFORCE HOLDINGS LIMITED


*

943

Clarendon House
2 Church Street
Hamilton HM11
Bermuda

68
3008

(i)

(ii)

PT Bara
PT Bara
500,000,000
200,000,000 A 300,000,000 B

300,000,000 6,000,000,000
3,811,926,789A
B
14,000,000,000 300,000,000 6,000,000,000
1,000,000,00020,000,000,000
(i)
(ii)

(i)

(ii)

(iii) LimLow
(i) Lim25%(ii) Low40%(iii) Chiu Yung Fong
Luk Haw Wan20%(iv) Ng Chun Sang15%

14.22

500,000,000
AB

(i)
(ii)(iii)
(i)PT Bara(ii)
(iii) 71,000,000 553,800,000
9.7%

A
B

AB
A5%B2%
A 0.074
0.037AA
APT Bara
PT Bara
A
B
BBB
PT BaraPT Bara
B

10

1.

2.
3.

PT KDBPT BaraPT BaraPT Bara


PT Bara
PT KDBPT
Bara

(A)(B)

(A)

(B)

4.

5.

PT Bara

6.

7.

8.

PT Bara

9.

65,000,000

11


10.

11.

(i)

(ii)

(iii)
(iv)

(i)

PT KDB PT Bara

(ii)

(iii)

(iv)
PT KDB

12


(v)

IUPPT BaraPT BaraIUP


PT BaraIUPIUP

(vi) PT BaraPT KDB


(vii) AMDALBarito Timur Regent
(viii) PT KDBPT Bara
(ix) PT KDBPT Bara
1611

(i)
(ii)
30

13


Lim
LowChiu Yung FongLuk Haw WanNg Chun Sang

PT Bara
18

200,000,000

5%A

A
AA

1,000,000 A
1,000,000
A

A(i)5
(ii)0.074

14

A0.05
0.05

A 0.074
A 2,702,702,702

70.90%

AA

30%

26
A
8.08
AA


A
A
A

15


AA
A
(i)
A (ii)
A100%
A

A A

A
A

180A
100%

A
6%
360

A


A

16

A A

A
1,000,000 A

20

A0.074
(i)

0.06121.3%

(ii)

0.11636.2%

(iii) 5
0.09622.9%
(iv) 10
0.09320.6%
(v)

0.037
100%

(vi) 0.035
111.4%

17


AA0.074
2,702,702,702(i)
70.90%(ii) A
41.49%(iii)
B6,000,000,000
21.60%
B

300,000,000

2%B

B
BB

1,000,000 B
1,000,000
B

B(i)5
(ii)
0.05
B

B0.05
B6,000,000,000
157.40%

18

BB

30%

26

B
8.08
BB

BB
B
B
100%
B

BB

B
B

180B
100%

B
3%
360

19

B


B

BB

B
1,000,000
B

20

B0.05
(i)

0.06118.0%

(ii)

0.11656.9%

(iii) 5
0.09647.9%

20


(iv) 10
0.09346.4%
(v)

0.037
35.1%

(vi) 0.035
42.9%
BB0.05
6,000,000,000(i)
157.40%(ii)B
61.15%(iii)
A2,702,702,702
47.94%

(i)(ii)

100%

99%

1%

PT KDB
99.98%

0.02%

PT Bara

21

100%

100%

100%

Big Advance
Holdings Limited

99%

1%

PT KDB
99.98%

0.02%

PT Bara

(i)A

0.074A

(ii)B
0.05
B

Early State1

938,974,000

24.63%

(i)A

0.074A

(ii)B
0.05
B

23

938,974,000

17.27%

938,974,000

7.50%

1,625,914,564

29.90%

8,702,702,702

69.54%

2,872,952,789

75.37%

2,872,952,789

52.83%

2,872,952,789

22.96%

3,811,926,789

100%

5,437,841,353

100%

12,514,629,491

100%

22

1.

Early State938,974,000Early
StateEarly State

2.

30%

26

8.08

3.

(i)A
0.074A(ii)B
0.05B
52.83%

300,000,000 6,000,000,000
1,000,000,000 20,000,000,000 14,000,000,000

PT KDB

23


PT KDB
PT KDB
99%PT KDB1%
PT KDB1%Big Advance Holdings Limited
PT KDBPT Bara

PT Bara
PT KDBPT Bara99.98%PT Bara
PT BaraPT Bara
PT Bara
PT Bara
(i) PT BaraRegent of East BaritoPT BaraIUP
PT Bara
PT Bara(ii) PT BaraAMDAL
PT Bara0.02%
PT Bara
PT Bara
Dusun TengahRaren BatuahPT Bara
4,093 PT Bara
8,700,000 11,500,000 6,100,000
PT Bara
PT Bara

PT Bara

PT Bara

24




JORC
PT Sugih Jaya Tata Lestari

PT Bara

PT Bara Ampah 5
AmpahBantaidjaukmenjengPT Bara

11.60
Buntok

31.8

15.2

23.8

28.7



Betung

25


PT Bara

PT Bara

(i) (ii)

100%

95%
JORC

95%

JORC

0.3

50

ASTMD-2013-04 39
PT CCIC JakartaBanjarbaru PT GeoservicesPT CCIC Jakarta
PT Geoservices

PT Bara

26

100

100

108,529
(108,429)
100

847
(846)
1

PT KDB
PT KDB

(3,726)
(3,726)
27

(3)
(3)

(14,170)
(14,170)

(12)
(12)

996,274

996,274

859

859

982,104

982,104

847

847

PT Bara
PT Bara

(2,500)
(2,500)

(2)
(2)

436,334

436,334

376

376

(1,029,550)
(1,029,550)

(1,949,997)
(1,949,997)

(887)
(887)

(593,216)
(593,216)

(511)
(511)

(1,681)
(1,681)

(2,543,213)
(2,543,213)

(2,192)
(2,192)

PT Bara
BT Bara

58,000,000PT Bara110%

28

PT Bara
PT BaraKuasa PertambanganKP
Izin Usaha PertambanganIUPDGMCG

PT Bara KPIUP
Barito Timur RegencyPT Bara

Barito Timur RegencyPT Bara
Barito Timur RegencyPT Bara
PT Bara
PT Bara

(i)

PT Bara
Regent of Barito Timur
545 4,093
Barito RegencyDusun TengahRaren
Batuah
PT Bara

(ii)

PT BaraPT Bara
PT BaraPT Bara
1.

Regent of Barito Timur

2.

Regent of Barito Timur

3.

4.

Regent of Barito Timur

5.

Regent of Barito Timur

6.

29


7.

8.

9.

10.

PT Bara

11.

12.

13.

14.

MEMRPT

15.

16.

Regent of Barito Timur

17.

18.

PT Bara

19.

MEMR

20.

PT
Minerba Law
PT BaraIUP
Barito Timur Regency

1.

2.

3.

30


Barito Timur Regency


PT Bara

Barito Timur RegencyPT Bara

(Directorate General of Plantation and Forestry)


PT Bara

1.

Sungai Karo 2,496

2.

PT Hasnur Jaya Utama

IUPHHK 442

PT BaraPT Borneo Ketapang Indah


4,078

(i)

Sungai Karo

PT BaraSungai Karo(PTP XIII)


Sungai Karo communityPT Bara
Sungai Karo community
Sungai Karo community

Sungai Karo community

(ii)

PT Hasnur Jaya Utama

PT Hasnur Jaya Utama


PT Hasnur Jaya Utama PT
Hasnur Jaya Utama
31


(iii) PT Borneo Ketapang Indah
PT Borneo
Ketapang IndahPT Borneo Ketapang Indah
PT Borneo Ketapang IndahPT Borneo
Ketapang Indah PT Bara PT
Borneo Ketapang Indah

(Ministry of Plantation and Forestry)


PT Bara
1.

HPK 1,582

2.

APL 2,496

PT BaraHPK
1.

2.

Izin Pinjam Pakai Kawasan Hutan

3.

PT Hasnur Jaya Utama

PT Bara
2011 10
1010

10

IUP
IUP
10

HPK
32

PT Bara
PT Bara
PT Bara
PT Bara

Sungai Karo

(HPH)
A

1,140

(APL) (HPK)

HPK

HPK

442

HPK

HPK

2,496

Sungai
KaroAPL

4,078

33

1.

2.

ABCPT Borneo Ketapang Indah

A
B
C

PT Bara
1.

2.

3.

4.

5.

34

(A)
PT Bara (IUP)

(B)

Sungai Karo
(PTP XIII)

PT Borneo Ketapang
Indah

PT Bornes Ketapang Inlah

PT Hasnur Jaya Utama

(C)

35

(D)

(E)

PT Bara
Sungai Karo (PTP
XIII)
PT Bara
PT Bara

PT Bara18
PT Bara
450,000 900,000
1,800,000PT Bara

450,000
36

900,000

1,200,000

1,500,000

1,800,000


PT Bara
10,916,000

2,560,000

PT BaraKabupaten Barito TimurKecamatan Dusun Tengah



PT Bara

PT
Bara

37

PT Bara
40PT Bara
PT Bara
5,000

PT Bara

760

270

2,300

750

250

160

13.8

821

38

950

550

450

180

400

1,750

1,000

225

10

550

25%

900

6,811

50%

4,105

2,560

2,560

39


900

1,200

1,500

1,800

50%

2,560

2,560

67%

2,560

2,560

83%

2,560

2,560

2,560

2,560

40

2,560,000

900,000

PT BaraWarukin Formation
PT Bara

41

MEMR 34

42

500,000
1,250,000

250,000
1,000,000

1,750,000

1,250,000

PT Bara

ICI PT Coalindo
Energy Argus Media LimitedICI

42.70

PT BaraPT Bara

PT Bara

PT BaraPT BaraPT Bara


43


PT Bara

PT BaraPT Bara
PT Bara

PT Bara
PT Bara

PT Bara

PT Bara

PT Bara

58

40


44

46

74 30 24



45

69
30

Siswo Awaliyanto 47 Pembangunan


National Veteran University 15
PT Abdi sarana Nusa

PT Bumi Cipta SakapirantiPT


Jorong Barutama Greston PT
Cipta Kridatama


PT Kemakmuran Pertiwi Tambang
Halmahera Awaliyanto
PT Harita Prima Abadi Mineral Jakarta
Awaliyanto

46

Siswo AwaliyantoPT Bara


PT Bara
PT Bara
PT Bara
PT Bara

PT Bara
PT Bara
PT BaraPT Bara

(i)
(ii)

Daoni Buana 47 Pembangunan National


Veteran University 17 Buana PT
Nurlaila Sakti Abadi, Coal Company

PT Bara
Asep A.S. Mulyana 47 Pembangunan
National Veteran UniversityMulyana18
Development Alternative Incorporated Environmental Services Program

PT Bara

47


PT Bara

PT Bara
10,900,000

PT Bara
PT Bara
PT Bara6,800,000
4,100,000
PT Bara18

1,800,000

PT Bara

(i) PT Bara(ii)

(iii)(iv)PT Bara

48


(i)
(ii)


141,600,000 28,300,000

224,990,000102,420,000

843,010,000542,710,000

49

8,705,00011,537,000
450,000 900,000
1,200,0001,500,0001,800,000

10,916,000 2,560,000 PT Bara

13.0%

463,900,000843,010,000
55.0%

PT Bara
PT BaraPT Bara
PT Bara

PT Bara

50


PT Bara

(i)PT Bara(ii)
PT Bara
PT Bara(iii)18
PT Bara PT Bara
(iv)
1818




71,000,000
553,800,000500,000,0009.7%
PT
Bara

51

PT Bara
BP
5,529,000,000
(Indonesia Coal Mining Association) (Indonesia Coal
Industry Outlook)
39%34%16%

52



BP
67.1%
240,200,000256,200,000 305,900,000
124,000,00079.4%


(US Energy
Information Administration)EIA2010(EIA 2010 International
Energy Outlook)

: (International Energy Agency)

53


133,000,000
206,000,000 54.89% 15,000,000 126.67%
34,000,000
20%

117,000,000
47.86%173,000,000
25.28%

: (International Energy Agency)

54

4,200 GAR kcal

Argus/Coalindo

: (International Energy Agency)


55


18.1626.43%
22.96
95%
1,9003,300
73.68% 4,500

EIA 2010

: (International Energy Agency)

(Indonesia Coal Mining Association)


(Indonesia Coal Industry Outlook)
(i) (ii) 80 36
44(iii) 129
4.0%80.1%15.9%
PT Adaro Energy Tbk
AdaroPT Berau Coal Energy TbkPT Exploitasi Energi Indonesia TbkPT Bukit
Asam (Persero) TbkBukitAdaroTambangAdaro
4,220Bukit1,160

56


97.71%

perseroan terbatas PTPT BaraPT KDBPT

1.

PT biasa

PT biasa
PT BaraPT biasa
BKPM PT biasa PMA
PT biasa
PT KDBPMA

2.

PT penanaman modal dalam negeri PMDNPMDN


PT biasaPMDN
PMDN
25 BKPM
PMDNPMDN

PT Bara
PT KDBPMDN

57


3.

PT penanaman modal asing PMAPMA

PT KDBPMA

BKPM PMA
PMA PMA BKPM (Indonesian
Capital Investment Coordinating Board)PMAPMDN
PMAPMA

PMA
BKPM

Big Advance Holdings LimitedPMA100%


PT KDBPT BaraPMAPT BaraPT KDB
PMABKPM
PMA

2222/1999

32
3
812
32/200422/199922/1999

32/2004
(i)
(ii)
(iii)
32/2004
3838

58


38

Minerba Law78

33

11
11
11
kuasa
pertambangan KPPT BaraKP
11Minerba LawMinerba
LawKP

Minerba Law

4
Minerba LawMinerba Law
Minerba Law
1.

22
2222
Wilayah Usaha Pertambangan WUP
Wilayah Usaha Pertambangan Khusus WUPK
Wilayah Pertambangan Rakyat WPR
WUPK (Dewan
Perwakilan Rakyat)

59


2.

23

23 23
IUPIUPKIPR
Wilayah Izin Usaha Pertambangan WIUP
Wilayah Izin Usaha Pertambangan Khusus WIUPKWIUP
WIUPK MEMR
WIUP/WIUPK WIUPK
23

3.

55
5555(i) MEMR
(ii) MEMR
IUPIUPKIPR

4.

78
78
78IUP
MEMR

5.

17
MEMR
17MEMR17
IUPIUPK MEMR
17IUPIUPK
MEMR
(i) (ii) (iii)
IUPIUPK

6.

28
MEMR
28MEMR 28 IUPIUPK


MEMR 28 IUP
IUPK

60


7.

34
MEMR
34MEMR34

MEMR34

8.

376.K/30/DJB/2010

MEMR 376MEMR 376

Minerba Law

Izin Usaha Pertambangan IUP

Izin Usaha Pertambangan Khusus IUPK


Izin Pertambangan
Rakyat IPRPT Bara
KPIUP
IUP

1.

kabupaten(kota)bupati

2.

3.

MEMR

PT BarabupatiBarito Timor

61


Minerba LawIUPIUP
Minerba Law

IUP

IUP

50,000

IUP

15,000

20

PT BaraIUP
Minerba Law
IUP

Minerba Law KP
Minerba LawKP DGMCG

BupatisKPIUPPT Bara
KPIUP
IUP DGMCG

Minerba LawMEMR28

1.

2.

3.

4.

62


28
MEMR28
MEMR28
MEMR28IUPIUPK

MEMR
IUPIUPKMEMR
28IUPIUPK
IUPIUPK

DGMCG MEMR 28
MEMR376MEMR376
IUP
IUPLMEMR376

MEMR28IUPIUPK
MEMR28IUPIUPK

23 IUP
MEMRMEMR
MEMR17
MEMR17IUPIUPK
DGMCG

63




DGMCG
IUPIUPK MEMR
17

23 IUP IUPK
IUPIUPK
MEMR34

DMODMO
MEMR
DMODMO
24.17%MEMR34
DMO

DMOMEMR34
1.

MEMR34

2.

DMO

3.

MEMR34DMO

Minerba Law IUPIUPK IUPIUPK


IUPIUPK
78

64

IUPIUPKMinerba LawIUPIUPK

IUPIUPK

32

1.

2.

B3

3.

4.

5.

6.

AMDAL

KPIUPIUPK
AMDAL

65

B3

1.

2.

3.

4.

1
1/1970
1/1970

66


13

555555
555
1.

2.

3.

Minerba LawIUPIUPK

adat
5



KPIUPIUPK

1.

(Hak Milik)

2.

(Hak Guna BangunanHGB)

3.

(Hak Pakai)

HGBHak Pakai
Hak Milik
Hak Milik HGB

67

41 19
1
MOFP(Izin Pinjans Pakai )
24P.43/Menhut II/2008

43
20
10

10

17(Pelayaran)
61
2002KM. 552007KM. 55

68

MEMR10

555.K/26/M.PE/1995
2

CPFRI2
CPFRI2

PT Bara

69

(i) (ii)
(iii)(iv)

Minerba Law
Minerba LawMinerba Law
MEMR
Minerba LawMinerba Law
Minerba Law
PT BaraKPIUP
DGMCGPT Bara
PT
PT Bara

Barito Timur RegencyPT

70


MEMR 28 IUPIUPK



MEMR28IUPIUPK

Minerba LawMEMR34

MEMR17

DGMCG

MEMR
24.17%
PT Bara

MEMR PT Bara
MEMRPT Bara
Minerba LawPT Bara
PT Bara

2320%
23
23

20%

71


20%PT Bara
PT Bara23
20%

PT Bara
PT Bara

PT Bara

AMDALBarito Timur Regency


AMDAL
AMDAL

PT Bara


PT Bara

PT Bara
PT BaraPT Bara
PT
Bara

72

PT Bara
PT Bara

PT Bara

PT Bara
PT
Bara
PT Bara Sungai Karo
Community (PTP XIII) PT Bara PT Borneo
Ketapang IndahPT Borneo Ketapang Indah
PT Borneo Ketapang Indah
PT BaraPT Borneo Ketapang Indah

PT Borneo Ketapang Indah

PT Bara
PT Bara

73


PT Bara
PT BaraPT Bara

(a)

PT BaraAMDAL

(b)

PT BaraPT Bara
PT Bara

PT Bara
PT BaraMinerba LawPT Bara
23PT Bara
PT BaraEast Barito Regent

PT BaraPT Bara
PT Bara

74

PT Bara

PT Bara

PT Bara
75

PT BaraPT Bara

100%
14.06(5)

(i)
(ii)(iii)
(iv)

68 3008
252253

76


2826
48

77

A.

(i)
26
77(ii)
23
67(iii)

2887(www.hkex.com.hk)

B.


27,845,000

15,389,0001,500,000
297,000
606,0008,926,000
4%Low2,627,000

C.

78


D.


12125

125%

+ *
*
*

79

28

29

Fastport Investments Holdings LimitedFastport

Fastport

Fastport
Fastport
Fastport PT Karya
Dasar BumiPT Karya99%
PT Bara Utama Persada RayaPT Bara99.98%

Fastport
Fastport
Fastport


3.340

80

Fastport

Fastport
27

2727
27
Fastport

81

A.

82

A
B.

108,529

100

108,429

100

(108,429)

100

100

100

100

11

83

A
C.

100

100

100

100

100

100

100

100

84

A
D.

(108,529)

100

108,429

100

108,429

100

(100)

100

100

100

85

A
E.

1.

Fastport263 Main Street,


P.O. Box 2196, Road Town, Tortola, British Virgin Islands
Fastport8

2.

Fastport

FastportFastport

3.

(a)

Fastport

PT KaryaPT BaraFastport
27FastportPT KaryaPT Bara
FastportPT KaryaPT Bara

FastportPT KaryaPT Bara


3
27

(b)

(i)

Fastport
Fastport

86

(ii)

(c)

Fastport

Fastport
Fastport

(d)

(e)

(f)

Fastport

(g)

Fastport

87

(h)

Fastport
(i)

(ii)
(iii)
(iv)
(v)
(vi)
(vii)

(i)

FastportFastport
FastportFastportFastport
Fastport

Fastport
(i)(iv)
(iv)(v)

FastportFastport

Fastport

Fastport

88

(j)

Fastport

(k)

Fastport

4.

FastportFastport
Fastport

(a)

Fastport

(b)

FastportFastport

(c)

Fastport

5.

Fastport

6.

Fastport

89

A
7.

Fastport

108,529

8.

PT Karya Dasar
Bumi

990
1,000,000

99%

Fastport
1018(4)
Fastport

Fastport

Fastport

909

90

A
9.

10.

Fastport

11.

50,000

1100

100

100

FastportFastport

Fastport

12.

13.

Fastport

91

PT KDB

28

29

PT Karya Dasar BumiPT Karya

Fastport

PT Karya
PT Karya
PT Karya
PT Bara Utama Persada RayaPT Bara99.98%
PT Karya
PT Karya
PT Karya


3.340

92

PT KDB

PT Karya

PT Karya
27

2727
27
PT Karya

93

PT KDB

A.

(3,726)

(14,170)

(3,726)

(14,170)

(3,726)

(3,726)

94

(14,170)

(14,170)

B
B.

PT KDB

499,900

996,274

482,204

996,274

482,204

996,274

982,104

1,000,000
(3,726)

1,000,000
(17,896)

996,274

982,104

10

95

B
C.

PT KDB

1,000,000

1,000,000

(3,726)

1,000,000

(3,726)

996,274

1,000,000

(3,726)

996,274

(14,170)

(14,170)

1,000,000

(17,896)

982,104

96

(3,726)

B
D.

PT KDB

(3,726)

(14,170)

(499,900)
(482,204)

(982,104)

1,000,000

996,274

(996,274)

996,274

996,274

996,274

97

B
E.

PT KDB

1.

PT Karya G2. Wisma 46


Kota BNI Lt. 43 Jl. Jend. Sudirman Kav. 1 Kel., Karet Tengsin Kee. Tarah Abang, Jakarta
Pusat10220, Republic of Indonesia.
PT Karya8

2.

PT Karya

PT KaryaPT Karya

3.

(a)

PT Karya

PT BaraPT Karya
27PT KaryaPT BaraPT Karya
PT Bara
KaryaPT Bara
3
27

(b)

(i)

PT Karya
PT Karya

98

PT KDB
(ii)

(c)

PT Karya

(d)

PT Karya

PT Karya
PT Karya

(e)

PT Karya

(f)

(g)

PT Karya

99

PT KDB

(h)

PT Karya
(i)

(ii)
(iii)
(iv)
(v)
(vi)
(vii)

(i)

PT KaryaPT KaryaPT
KaryaPT KaryaPT Karya
PT Karya

PT Karya
(i)(iv)
(iv)(v)

PT KaryaPT Karya

PT Karya

PT Karya

100

PT KDB

(j)

PT Karya

(k)

PT Karya

4.

PT Karya
PT Karya
PT Karya
(a)

PT KaryaPT Karya

PT Karya

(b)

PT Karya

(c)

PT KaryaPT Karya

(d)

PT Karya

5.

PT Karya
101

B
6.

PT KDB

PT Karya

28%

25%

7.

(3,726)

(14,170)

(1,043)
1,043

(3,542)
3,542

3,726

14,170

PT Karya

102

B
8.

PT KDB

499,900

PT Bara Utama
Persada Raya

4,999
100,000

99.98%

PT Karya
1018(4)
PT Karya

9.

PT Karya

PT Karya

PT Karya

103

B
10.

PT KDB

1,000,0001,500

1,500,000

1,500,000

1,000,0001,000

1,000,000

1,000,000

PT KaryaPT Karya

PT Karya

11.

12.

PT Karya

104

PT BARA

28

29

PT Bara Utama Persada RayaPT Bara


Fastport
PT Bara
PT Bara
PT Bara
PT Bara
PT Bara

3.340

105

PT BARA

PT Bara

PT Bara

106

PT BARA

A.

(2,500)

(1,029,550)

(1,949,997)

(2,500)

(1,029,550)

(1,949,997)

(2,500)

(2,500)

107

(1,029,550)

(1,029,550)

(1,949,997)

(1,949,997)

C
B.

PT BARA

436,334

593,216
593,216

482,204
2,061,009
2,543,213

(593,216)

(2,543,213)

500,000
(1,093,216)

500,000
(3,043,213)

(593,216)

(2,543,213)

8
8

436,334

10

500,000
(63,666)

436,334

108

C
C.

PT BARA

500,000

(61,166)

(2,500)

500,000

(63,666)

436,334

500,000

(63,666)

436,334

(1,029,550)

(1,029,550)

500,000

(1,093,216)

(593,216)

500,000

(1,093,216)

(593,216)

(1,949,997)

(1,949,997)

500,000

(3,043,213)

(2,543,213)

109

438,834
(2,500)

C
D.

PT BARA

(2,500)

(1,029,550)

(1,949,997)

593,216

482,204
1,467,793

593,216

1,949,997

(2,500)

(436,334)

438,834

436,334

436,334

436,334

110

C
E.

PT BARA

1.

PT BaraJalan Danau Sunter Utara C-20,


sub-district Sunter Jaya, Tanjung Priok, North Jakarta 14360, Republic of Indonesia
PT Bara

2.

PT Bara

PT BaraPT Bara

3.

(a)

(i)

PT Bara
PT Bara

(ii)

111

PT BARA
(b)

PT Bara

PT Bara
PT Bara

(c)

(d)

(e)

PT Bara

(f)

PT Bara

112

PT BARA

(g)

PT Bara
(i)

(ii)
(iii)
(iv)
(v)
(vi)
(vii)

(h)

PT BaraPT Bara PT
BaraPT BaraPT Bara
PT Bara

PT Bara
(i)(iv)
(iv)(v)

PT BaraPT Bara

PT Bara

(i)

PT Bara

113

C
4.

PT BARA

PT BaraPT Bara
PT Bara

(a)

PT Bara

(b)

PT BaraPT Bara

(c)

PT Bara

5.

PT Bara

6.

PT Bara

10%50,000,000

28%

25%

(2,500)

(1,029,550)

(1,949,997)

(250)
250

(288,274)
288,274

(487,499)
487,499

114

C
7.

PT BARA

PT Bara

8.

9.

PT Bara

10.

100,0005,000

500,000

500,000

500,000

100,0005,000

500,000

500,000

500,000

PT BaraPT Bara

PT Bara

11.

115

C
12.

PT BARA

PT Bara

116


A.

Fastport
Investments Holdings LimitedFastport

FastportPT Karya Dasar BumiPT KaryaPT Bara Utama Persada RayaPT


Bara
AC17.77251,000
0.8653

FastportPT KaryaPT Bara


A C
17.77251,0000.8653

AFastportPT KaryaPT Bara

117


B.

Fastport PT Karya PT Bara

141,627

141,627

141,627

(116,451)

(116,451)

(116,451)

25,176

25,176

25,176

2,746
(3,110)

(51,549)

(12)

(1,687)

2,746
(3,110)
(1,687)
(51,561)

2,746
(3,110)
(1,687)
(57,281)

(26,737)

(12)

(1,687)

(28,436)

(1,616)

(1,616)

(28,353)

(12)

(1,687)

(30,052)

(67,478)

21

21

21

(28,332)

(12)

(1,687)

(30,031)

(67,457)

118

(5,720)

(6)

(34,156)
(31,706)

(5)

(33,322)


C.

Fastport PT Karya PT Bara

(1,277)

(4)

489,018

(3)

44,763

844

433

44,763
1,277

44,763

(40)

(40)

44,723

844

433

46,000

18,106
46,225

1,500
114,439

417

18,106
46,642

1,500
114,439

180,270

417

180,687

(65,775)
(22,837)
(6,500)
(4,434)

(843)

(2,200)

(65,775)
(25,880)
(6,500)
(4,434)

(99,546)

(843)

(2,200)

(102,589)

(105,266)

80,724

(843)

417

(2,200)

78,098

204,002

125,447

850

(2,200)

124,098

737,743

(2,876)

(2,876)

(2,876)
(434,567)

(2,876)

(2,876)

(437,443)

122,571

850

(2,200)

121,222

300,300

(40)
489,018
533,741

(417)
128,998

(4)
(2)

18,106
46,225
128,998
1,500
114,439
309,268

(5,720)
3,043

(6)
(4)

(71,495)
(22,837)
(6,500)
(4,434)

119

(434,567)

(2)

Fastport PT Karya PT Bara

174,746

865

433

176,045

(1,299)

(4)

174,746

(15)

(2,633)

(54,823)

(2)
(4)
(6)

183,449

(52,175)

183,449
2,648
(5,720)

122,571

850

(2,200)

(121,222)

120

(57,895)
300,300


D.

Fastport PT Karya PT Bara

(31,706)
(5,720)

(5)
(6)

(28,353)

(12)

(1,687)

(30,052)

6,422
(132)

6,422
(132)

6,422
(132)

(200)
20
1,616

(200)
20
1,616

(200)
20
33,322

(20,627)
(5,935)

(12)

(1,687)

(22,326)
(5,935)

(28,046)
(5,935)

(15,419)

(15,419)

(15,419)

(12,022)

(12,022)

(12,022)

(7)

(7)

(7)

6,887

6,887

4,474
(205)

4,474
(205)

4,474
(205)

(42,854)

(12)

(1,687)

(44,553)

(44,553)

(11)

(11)

(11)

(42,865)

(12)

(1,687)

(44,564)

(44,564)

121

31,706

5,720

(5)

(6)

(67,478)

12,607

Fastport PT Karya PT Bara

(8,080)

(8,080)

(8,080)

2,901

(844)

(433)
(417)

2,901
(1,277)
(417)

2,901
863

132

132

132

(5,047)

(844)

(850)

(6,741)

(4,184)

61,480
(50,389)
47,115

(1,314)

843

417
1,270

61,480
(50,389)
47,115
417
2,113
(1,314)

61,480
(50,389)
47,115

836
(1,314)

56,892

843

1,687

59,422

57,728

8,980

(1)

(862)

8,117

8,980

(433)

(433)

(433)

105,892

862

106,755

114,439

114,439

114,439

114,439

114,439

114,439

2,140
417

(4)
(4)

(417)
(1,277)

(863)

(4)
(4)

(4)

105,892

122


E.

(1)

Fastport
3

(2)

A(A)B(B)

489,018,000
434,567,000

128,998,000 183,449,000

(A)

A200,000,0005%

(B)

B300,000,0002%

(3)

36

(4)

FastportPT KaryaPT Bara

1%PT Karya

123

(5)

31,706,000

(6)

5,720,000

124


F.

28

29

Fastport Investments Holdings LimitedFastport


117

297

29(7)

125

300


29(1)

(a)

(b)

(c)

29(1)

126


A.

141,600,000
26%112,100,000
28,300,000
10,600,00017,700,000167%

(i)

5,900,000 25,200,000
19,300,000

(ii)

800,0001,000,000
200,000

(iii) 11,300,000

(iv) 12,100,00051,500,000
39,400,000
(v)

600,000 1,600,000
1,000,000

122,600,000
100,100,000 22,500,000
15,900,00031,300,0001,100,000
2,500,00028,300,000

127

115,900,000
107,400,000 1,500,000
1,500,000470,000
2,080,000
29,300,000 18,200,000

225,000,000177,100,00013.0%
10.3%

29,337

18,246

22,837
6,500

11,746
6,500

29,337

18,246

22,457
6,880

11,366
6,880

29,337

18,246

6,880
7,068
15,389

6,880
8
11,358

29,337

18,246

1,500,0001,500,000

128

141,600,000
112,100,00026%
900,00037,300,00038,200,000
28,500,00063,700,00035,200,000
8,600,00014,000,00022,600,000
10,400,00026,600,000
16,200,000
17.2% 17.8%

19,300,00025,200,000
28,300,000
10,600,000 17,700,000 167%
5,900,00025,200,000
19,300,000800,000 1,000,000
200,00012,100,000
51,500,00039,400,000
11,300,000

129

a)

317,000,0000.050.153
47,000,000

b)

36

130

2626
9371,035

30,140,000

131

112,100,000
31%163,500,000
10,600,000
23,500,00012,900,00055%

(i)

4,000,00019,000,000
23,000,000

(ii)

900,000
900,000

(iii) 1,700,0001,100,000
2,800,000
(iv) 11,300,000

(v)

1,600,000 2,900,000
4,500,000

(vi) 6,400,00039,400,000
45,800,000
100,000,000
61,000,00039,000,000
26,000,00017,000,0006,000,000
10,600,000

107,400,000
80,700,000 1,500,000
1,500,000 2,100,000
1,100,000
132

18,200,000 13,300,000

177,000,000141,000,00010.3%
9.4%

1
25

18,246

10,835
2,460

18,246

13,295

11,746
6,500

6,795
6,500

18,246

13,295

11,366
6,880

6,415
6,880

18,246

13,295

6,880
8
11,358

6,880
1,998
4,417

18,246

13,295

1,500,000
1,500,000

133

51,400,000
112,100,000163,500,000
17,000,00038,000,000
55,000,000 17,000,000
35,000,00052,000,000
14%17%

23,000,00019,000,000

10,600,000
23,500,000 4,000,000
19,000,00023,000,000900,000
900,0001,700,000
1,100,0002,800,000
11,300,0001,600,000
2,900,000 4,500,000
6,400,00039,400,00045,800,000

11,300,00021,900,000
23,500,0001,600,000

134

0.086
520,000,0000.05
43,300,000
294,000,000

2627
1,035988

135

163,000,000
1.9%160,000,000

23,500,0005,500,00018,000,000
327%
(i)

11,000,000 23,000,000
34,000,000

(ii)

3,000,000900,000
3,900,000

(iii) 800,000 800,000


1,600,000
(iv) 2,800,000 45,800,000
43,000,000
61,000,000
85,000,00024,000,000

80,700,000
105,700,0001,500,000
1,500,000 1,000,000
2,700,000

136

14,700,00013,300,000

141,000,000166,000,0008.8%
9.4%

1
25

10,835
2,460

10,573
4,161

13,295

14,734

6,795
6,500

8,234
6,500

13,295

14,734

6,415
6,880

7,854
6,880

13,295

14,734

6,880
1,998
4,417

6,880
2,011
5,843

13,295

14,734

16,000,000
16,000,0001,500,000
1,500,000

137

3,000,000
163,000,000160,000,000

10,000,000 56,000,000 46,000,000


1,000,0007,000,00052,000,000
59,000,000
14% 21% 11,000,000
23,000,00034,000,000

18,000,000 23,500,000 5,500,000


11,000,000 23,000,000
34,000,0003,000,000
900,0003,900,000800,000
800,0001,600,0002,800,000
45,800,00043,000,000

138

2728
9881,160

B.

PT KDBPT KDB

PT BaraPT Bara

139

PT BaraPT BaraPT Bara


PT Bara

PT KDB
PT
KDB
3,276,00014,170,000

PT Bara
PT Bara

2,500,0001,029,550,0001,949,997,000

Low 2,061,008,969
108,429

140

141

PT BARA
26
383806
(852) 2529 6878 (852) 2529 6806
info@roma-international.com
http://www.roma-international.com

PT Bara

Roma Oil and Mining Associates Limited


ROMARaren BatuahDusun Tengah
PT Bara

18

VALMINROMAVALMIN
VALMINAusIMM
AusIMM
VALMINJORC

ROMA

142

PT BARA

ROMA

ROMASRK ConsultingJORC
PT HatfieldBelkin and Tewalt

(Geochemistry of Selected Coal Samples from Sumatra, Kalimantan,


Sulawesi, and Papua, Indonesia)

ROMA
ROMA

ROMA
Dusun TengahRaren BatuahROMA
ROMA

ROMA
ROMA

ROMA

ROMA

ROMA

ROMA
ROMA
ROMA
ROMA
ROMAROMA
ROMA

ROMA

143

PT BARA

VALMIN ROMAROMA

ROMA

ROMA
ROMA

Roma Oil & Mining Associates Limited


26
383806
(852) 2529 6878
(852) 2529 6808
hermantso@roma-international.com

(Lakehead University)
(B. Eng.)(MBA)
(Ph.D.)

(Institute of
Materials, Minerals and Mining (UK))
(Institute of Materials, Minerals and Mining)
(Canadian Geotechnical Society)
(British Geotechnical Society)

18

144

PT BARA

ROMA

ROMA

ROMA

68
3008

Roma Oil And Mining Associates Limited

B.Eng., MBA, PhD, MIMMM, AusIMM, SPEC, CIM,


TMS, BGS, CGS, CEng, MICE, CPEng,
MIEAust, FCMA, ASCE, CSCE

JORC

(Canadian
Institute of Mining, Metallurgy and Petroleum)

Terence WongJason Lam

145

PT BARA

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

150

1.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

153
153
154
154
154
155
155
155
156

2.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

161
161
162

3.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

168

4.

. . . . . . . . . . . . . . . .
4.1. . . . . . . . . . . . . . .
4.2.
4.3. . . . . . . . . . . . . . .

....................................
....................................
....................................
....................................

169
169
172
173

5.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

175
175
175

6.

. . . . . . . . . . . . . . . . .
6.1. . . . . . . . . . . .
6.2. . . . . . . . . . . . . .
6.3. . . . . . . . . .

.
.
.
.

179
179
179
179

7.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

180
180
180

8.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.2. (IEE) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

184
184
184

9.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

187
187
188

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.

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.
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.
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.
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.

146

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.
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.
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.

PT BARA

10.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

189

11.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

190

A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

191

B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

198

C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

206

D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

207

147

PT BARA

1
2
3
4
5
6
7
8
9
10
11
12
13
14

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
PT Geoservices . . . . . . . . . . . . . . . . .
QA/QC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

148

154
165
167
167
174
175
176
177
178
181
182
186
187
188

PT BARA

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
IEE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

149

153
157
158
159
160
161
163
164
164
164
166
168
170
171
171
172
172
185

PT BARA

Dusun Tengah
Raren Batuah193
PT Bara Utama Persada RayaBUPR100%
IUP No. 181
24-25
135

Warukin
Montalat
BeraiWarukin

(C1C2C3)151C1C2
C3

OTO 3030
Mark 2

150

PT BARA

ASTM D-2013-0439PT CCIC


JakartaPT GeoservicesPT CCIC JakartaISO
PT Geoservices

(QA/QC)

0.25(UU
1.43(N

1849PengaronMahakam

1980
SASCNEX6072.5
208597.5

JORC

8,705

11,537

6,097

26,340

151

PT BARA

(40

152

PT BARA

1.

1.1.
Dusun Tengah
Raren Batuah1193


153

PT BARA

1.2.
PT Bara Utama Persada RayaBUPR100%
IUP No. 181
4,0931

115o 1053,94

01o 4101,00

115o 1053,94

01o 4328,90

115o 1259,00

01o 4328,90

115o 1259,00

01o 4654,00

115o 1121,84

01o 4654,00

115o 1121,84

01o 4433,73

115o 0914,37

01o 4433,73

115o 0914,37

01o 4101,00

1
1.3.
24-25
(~(~2,405
135
1.4.

Dayak
ManyanDayak DusunBakumpaiDayak Bawo
Bakumpai

154

PT BARA

Dayak Manyan Hindu


Kaharingan

1.5.

1.6.

1.7.
153,8001.5
80%

KengkabangSamiajangLiang PahangUlu
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050
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155

PT BARA

50150

1.8.
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pinjam pakai

156

PT BARA

157

PT BARA

f h

158

PT BARA


159

PT BARA

160


2.

PT BARA

2.1.

2.1.1.
BUPRSchwaner
Shield
Adang Fault

Schwaner Shield
PaternosterSW Borneo(Satyana

161

PT BARA

Berai

2.1.2.

Montalat
Meratus

Warukin

Meratus
2.2.
Montalat
BeraiBerai

162

PT BARA

Warukin

Warukin

7
SRK Consulting (Australasia) Pty Ltd.
JORCHong LongBarito Timur-Central Kalimantan

2.2.1.

Warukin
30
401025

163

PT BARA

8
SRK Consulting (Australasia) Pty Ltd.
JORCHong LongBarito Timur-Central Kalimantan

9
SRK Consulting (Australasia) Pty Ltd.
JORCHong LongBarito Timur-Central Kalimantan

10
SRK Consulting (Australasia) Pty Ltd.
JORCHong LongBarito Timur-Central Kalimantan

2.2.2.

2.2.3.

2,4001,1001,400

164

PT BARA

(C1C2C3)151
C1C2
C3

10430
TalohenTuran Amis

C1

C1_1

9.58

C1_2

C2

C3

8,341

45

0.0054

12.46

8,477

47

0.0055

C1_3

14.98

8,492

48

0.0057

C1_4

17.53

11,462

44

0.0038

C2_1

63.18

12,868

342

0.0266

C2_2

85.51

20,468

348

0.0170

C2_3

92.23

23,008

349

0.0152

C2_4

94.95

24,638

351

0.0142

C3

56.82

16,746

351

0.0198

165

PT BARA

11
SRK Consulting(Australasia)Pty Ltd.
PT. Bara Utama Persada Raya

166

PT BARA

34

C1

C2

C3

C1_1
C1_2
C1_3
C1_4
C2_1
C2_2
C2_3
C2_4
C3

27
36
43
42
146
208
236
230
101

34
44
54
52
180
258
293
285
124

40
52
62
60
208
300
339
329
142

46
52
58
59
68
75
71
82
91
68
77
85
234
265
292
341
389
430
384
436
481
372
422
464
158
177
193

C1

C2

C3

C1_1
C1_2
C1_3
C1_4
C2_1
C2_2
C2_3
C2_4
C3

40
51
62
60
146
306
334
326
148

50
64
78
75
180
380
414
403
181

58
75
90
87
208
442
479
466
207

66
76
84
86
98
109
103
118
131
98
112
123
234
265
292
502
573
633
543
617
680
526
596
656
231
258
281

12

167

PT BARA

12
SRK Consulting(Australasia)Pty Ltd.
PT. Bara Utama Persada Raya

3.

HQ
Tone THS 5Long Year 24

Sigit Hardjanto
Daya Kita Integra Teknologi

168

PT BARA

PT Sugih Jaya Tata Lestari


THSLong Year 55TOHOHQ

Geologger OYO 3030 Mark 2

10%

4.

4.1.

PT Daya Kita Integra Teknologi


TOHOLong Year 55THSHQHQ
HQ

169

PT BARA

13
SRK Consulting (Australasia) Pty Ltd.
JORCHong LongBarito Timur-Central Kalimantan

170

PT BARA

14

15

171

PT BARA

16

17
4.2.
Geologger OTO 3030 Mark 2

172

PT BARA

4.3.
PT Sugih Jaya Tata Lestari
(UTM)

DH_01
DH_02
DH_03
DH_04
DH_05
DH_06
DH_07
DH_08
DH_09
DH_10
DH_11
DH_12
DH_13
DH_14
DH_15
DH_16
DH_17
DH_18
DH_19
DH_19R
DH_20
DH_20R
DH_21
DH_21R
DH_22
DH_22R
DH_23
DH_23R
DH_24
DH_24R
DH_25
DH_26
DH_26R
DH_27
DH_28
DH_29
DH_29R
DH_30

X
295458.154
295632.296
295767.238
295856.343
295941.070
296108.647
296490.544
295424.232
295621.130
295744.662
295844.397
296021.942
296125.773
295605.721
295714.526
295860.501
296051.043
296199.773
295333.212
294960.749
295540.825
295526.800
295681.659
295796.971
295807.321
296113.847
295959.228
296000.618
296109.660
294854.260
295372.510
295497.914
295873.826
295698.979
295935.195
296110.334
294894.772
296442.189

Y
9813742.013
9813744.640
9813739.394
9813781.842
9813685.012
9813795.051
9813635.484
9813396.500
9813496.410
9813403.314
9813400.802
9813400.802
9813415.007
9813010.866
9813017.066
9813040.855
9813043.199
9813012.503
9812656.814
9810148.335
9812673.877
9809839.960
9812676.000
9809669.884
9812649.756
9809526.135
9812683.147
9808961.250
9812682.110
9809269.050
9811390.660
9811130.379
9808616.279
9811026.991
9810895.932
9810797.776
9808888.833
9810599.315
173

Z
102.027
94.443
99.539
116.090
94.432
101.975
91.667
97.250
97.500
92.626
93.192
105.092
99.240
114.035
98.937
101.050
87.390
90.220
111.820
87.312
113.251
80.954
116.825
92.408
112.221
80.520
101.209
92.514
91.126
79.000
87.130
96.400
86.369
98.930
81.850
77.121
79.680
81.558

51.00
54.00
51.00
70.00
51.00
51.00
70.00
51.00
62.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
51.00
50.00
51.00
51.00
51.00
34.33
55.50
51.00
51.00
52.00
51.00
51.00
51.00
51.00
51.00
51.00
51.00
51.00
51.00
35.53
51.00
51.00

P
TW
TW
TW
P
P
P
P
TW
P
P
P
P
P
P
P
O
P
TW
TW
TW
TW
P
P
TW
P
TW
P
TW
P
O
TW
TW
TW
TW
TW
TW
P

PT BARA

DH_31
DH_32
DH_33
DH_34
DH_34R
DH_35
DH_36
DH_37
DH_38
DH_39
DH_40
DH2_01
DH2_02
DH2_03
DH2_04
DH2_05
DH2_06
DH2_07
DH2_08
DH2_09
DH2_10
DH2_11
DH2_12
DH2_13
DH2_14
DH2_16
DH2_17
DH2_18
DH2_19
DH2_20
DH2_21
DH2_22

X
295436.161
295592.055
295829.555
295998.551
295293.261
296262.327
295045.251
295449.638
295661.201
295792.957
296198.287
295263.255
295498.781
295797.978
296033.891
296355.550
295928.287
294905.519
295166.987
294678.491
294750.183
295055.633
295315.578
295746.184
296262.043
295156.279
295640.941
295975.328
296361.972
295965.559
295147.440
295685.040

Y
9810743.557
9810661.295
9810518.565
9810451.743
9809969.191
9810360.533
9810529.470
9810392.325
9810217.090
9810129.770
9809946.372
9811703.046
9811466.834
9811844.903
9811882.582
9811892.761
9813414.090
9811026.561
9810926.899
9810232.033
9809819.455
9809536.900
9809364.535
9809100.868
9808560.342
9808284.190
9807996.254
9807869.125
9807774.130
9813045.148
9810541.415
9810619.018

TW=P=O=

174

Z
92.093
100.536
90.494
81.981
82.210
82.305
96.324
85.262
89.650
81.208
81.492
99.838
104.393
103.935
105.626
100.737
89.430
100.849
96.639
86.473
83.397
83.336
79.634
8.286
98.735
80.865
82.865
80.432
82.394
88.122
89.775
98.972

52.40
51.00
51.00
47.00
51.00
51.25
70.00
51.00
51.00
51.30
51.00
51.00
51.00
51.00
42.05
30.00
51.00
46.00
51.00
51.50
44.00
51.00
51.00
51.00
51.00
51.00
51.00
51.00
51.00
51.00
51.00
50.00

P
P
P
P
P
P
TW
P
P
P
TW
TW
TW
TW
TW
TW
TW
TW
P
P
P
P
P
P
TW
P
P
P
P
TW
P
P


5.

PT BARA

5.1.

5.2.

5.2.1.
ASTMD-2013-04
PT CCIC Jakarta39BanjarbaruPT Geoservices
PT CCIC JakartaISOPT Geoservices

ASTM D3302-2007 (% ar)

ASTM D3173-2008 (% adb)

ASTM D3174-2004 (% adb)

ASTM D3175-2007 (% adb)

ASTM D3172-2007 (% adb)

ASTM D4239-2008 (% adb)

ASTM D5865-2007 (Cal/g adb)

AS 1038 part 21.1.1; 2008 (g/mL)

6PT Geoservices

175

PT BARA
5.2.2.
(QA/QC)

QA/QC PT Geoservices

(%) (%) (%) (%)


(%)(%)(adb
7

(TM)

16%

547%CCICGeoservices

16%

216%CCICGeoservices

7QA/QC

176

PT BARA
5.2.3.

A
BU
B
BL
CU
C
CL
DU
D
DL
EU
E
EL
FU
F
FL
G
H
I
JU
J
JL
KU
KLU
KL
KLL
L
MU
M
ML
NU

5
2
4
2
1
5
1
2
6
2
6
4
5
6
4
6
5
5
6
5
8
5
12
4
8
4
8
3
8
2
5

0.70
0.56
0.36
0.84
0.65
1.05
0.89
0.32
0.92
0.68
0.56
0.66
0.52
0.63
0.58
0.49
0.53
0.35
1.23
0.78
0.50
0.51
0.69
0.51
0.85
0.69
1.00
0.67
1.11
0.54
0.63
177

0.15
0.54
0.10
0.46
0.65
0.20
0.89
0.22
0.34
0.32
0.21
0.30
0.20
0.20
0.16
0.18
0.16
0.29
0.20
0.70
0.17
0.30
0.30
0.20
0.52
0.30
0.55
0.45
0.06
0.40
0.43

1.15
0.59
0.50
1.23
0.65
1.85
0.89
0.41
1.66
1.05
1.19
1.48
0.85
0.92
1.10
0.77
1.81
0.40
1.97
0.85
0.74
0.72
1.26
0.96
1.19
1.03
1.57
0.90
1.90
0.67
0.87

PT BARA

N
NL
OU
O
OL
P
Q
RU
R
RL
S
T
UU
U
UL

8
5
1
13
1
18
11
6
3
6
6
1
2

1.43
0.49
0.90
0.88
0.30
0.79
0.48
0.35
0.83
0.80
0.44
0.28
0.25

1.09

0.69
0.30
0.90
0.23
0.30
0.13
0.10
0.25
0.50
0.23
0.23
0.28
0.13

1.05

2.10
0.73
0.90
1.85
0.30
1.50
0.96
0.50
1.03
0.90
0.90
0.28
0.37

1.12

8
0.25UU1.43N
9

%
%
JORC (ar) (adb)


%
%
%
%
(adb) (adb) (adb) (adb) (adb) (adb)

HGI

8.7

33.53

15.92

9.06

37.88

37.06

1.65

5,260

1.38

58

11.5

34.46

16.04

8.38

38.05

37.53

1.81

5,293

1.39

58

6.1

33.48

15.41

9.19

37.75

37.65

2.05

5,221

1.39

58

26.3

33.93

15.85

8.79

37.93

37.40

1.81

5,265

1.39

58

178


6.

PT BARA

6.1.
Pengaron
Ombilin
Bukit Asam
4,000

6.2.
ICI Index4,200
GAR(3,700NAR)42.70FOB

10%
FOB

(AE)
1%1%ML5%

BeraiBeraiWarukin
Berai

6.3

2:1
PT Bara3.53BCM

179

PT BARA

7.

7.1.
JORC

7.2.

100%

95%
JORC

180

PT BARA

95%

JORC

0.3

50

JORC

500

1,000

2,000

1011

8,705

11,537

6,097

26,340

10

181

PT BARA

KU

KL


(%) (%) (%) (%)
(arb) (%) (%) (adb) (adb) (adb) (adb)
(HGI)
(adb) (adb)
(adb)

502
370
872

38.07 16.40
39.33 17.36
38.60 16.81

5.82
4.23
5.15

41.17 36.61
41.30 37.11
41.22 36.82

0.77
0.48
0.64

5,472
5,425
5,452

1.36
1.34
1.35

52
57
54

696
15
710
283
392
662
1,337
267
460
103
830
931
258
21
1,210
737
263
81
1,080
387
200
212
799
226
523
7
757
677
401

38.83
34.61
38.75
32.59
33.77
37.53
35.42
38.00
36.99
36.94
37.31
39.25
38.38
39.27
39.06
34.51
36.07
36.22
35.03
30.55
33.42
31.48
31.52
34.69
31.86
30.92
32.69
33.87
32.52

5.13
3.98
5.11
4.02
4.25
5.38
4.77
6.55
5.66
6.45
6.05
6.28
8.33
9.57
6.78
9.62
11.90
13.95
10.51
6.75
8.56
7.89
7.51
9.27
9.28
10.75
9.29
9.12
15.81

40.29
42.31
40.33
41.32
41.10
39.18
40.18
39.56
41.99
41.61
41.15
40.14
39.48
38.78
39.97
37.70
37.45
37.37
37.61
39.91
37.73
39.28
39.19
37.22
37.39
35.07
37.32
36.77
34.65

38.11
38.14
38.11
39.47
39.38
40.50
39.96
38.39
37.60
36.41
37.71
36.97
36.76
36.53
36.92
36.61
35.03
34.24
36.04
38.51
37.00
37.77
37.94
37.23
37.05
37.23
37.11
38.61
35.40

0.40
0.27
0.40
0.37
0.35
0.38
0.37
0.50
0.31
0.25
0.36
0.35
0.70
0.70
0.43
0.67
1.01
1.53
0.82
1.98
1.75
2.02
1.93
1.07
1.44
0.49
1.32
0.91
2.57

5,386
5,560
5,390
5,654
5,574
5,284
5,444
5,317
5,437
5,382
5,391
5,292
5,248
5,171
5,280
5,131
5,003
5,005
5,090
5,608
5,253
5,474
5,483
5,129
5,190
5,040
5,170
5,226
4,814

1.37
1.34
1.37
1.33
1.34
1.39
1.36
1.37
1.36
1.36
1.37
1.36
1.38
1.38
1.37
1.39
1.42
1.44
1.40
1.36
1.36
1.36
1.36
1.39
1.39
1.38
1.39
1.39
1.47

53
53
53
57
57
56
57
60
70
71
67
64
63
63
63
57
57
57
57
55
60
57
58
59
59
57
58
59
70

1,078

33.35 14.97 11.70 35.95 37.37

1.55

5,067

1.42

64

16.46
15.57
16.44
15.19
15.28
14.94
15.09
15.53
14.75
15.55
15.10
16.62
15.43
15.12
16.34
16.07
15.62
14.44
15.83
14.83
16.72
15.05
15.37
16.28
16.28
16.95
16.28
15.50
14.14

182

PT BARA

83
1,098
1,205
2,385
389
1,245
584
2,217
1,538
2,132
550
4,220
1,240
581
153
1,974
683
868
659
2,210
261
788
942
1,992
1,002
1,134
532
2,668
8,705
11,537
6,097
26,340


(%) (%) (%) (%)
(arb) (%) (%) (adb) (adb) (adb) (adb)
(HGI)
(adb) (adb)
(adb)
31.26 14.96 5.36 39.54 40.14 1.07 5,680 1.35 51
35.93 16.98 6.44 37.78 38.81 1.86 5,284 1.37 47
33.77 15.63 12.35 35.95 36.07 2.23 4,980 1.42 47
34.66 16.21 9.45 36.90 37.44 2.03 5,141 1.40 48
34.47 16.31 11.12 35.81 36.76 2.10 5,019 1.43 58
36.87 16.36 10.01 35.65 37.99 3.09 5,051 1.41 53
36.30 16.21 10.75 35.28 37.76 3.51 5,000 1.43 53
36.30 16.31 10.40 35.58 37.71 3.03 5,032 1.42 55
33.17 15.80 7.91 37.90 38.38 2.01 5,343 1.37 60
33.61 15.96 8.24 37.11 38.70 1.87 5,298 1.39 63
33.39 17.39 6.34 36.67 39.60 1.17 5,328 1.38 65
33.42 16.09 7.87 37.34 38.70 1.83 5,318 1.38 63
30.17 15.17 14.64 36.97 33.16 3.17 4,928 1.44 62
35.37 15.43 9.90 37.87 36.79 2.88 5,227 1.41 63
34.42 15.44 11.55 35.51 37.45 2.77 4,920 1.41 60
32.01 15.27 13.03 37.12 34.55 3.05 5,014 1.43 61
33.25 15.44 8.09 38.48 37.99 2.08 5,452 1.38 51
33.26 15.24 9.95 38.80 36.02 2.52 5,368 1.39 55
32.70 15.69 8.27 39.56 36.48 2.23 5,467 1.37 60
32.99 15.48 8.90 39.12 36.50 2.33 5,426 1.38 55
32.35 16.03 5.28 38.73 39.96 1.84 5,658 1.34 54
31.08 18.37 5.05 38.11 38.47 1.82 5,518 1.34 50
29.30 13.93 9.05 38.18 38.84 3.29 5,244 1.37 60
30.39 15.94 7.00 38.22 38.84 2.53 5,405 1.35 55
32.48 17.42 9.68 35.90 36.31 1.76 5,253 1.38 64
30.50 15.42 10.39 38.41 35.75 1.81 5,422 1.38 63
28.26 13.77 12.10 37.99 36.25 1.92 5,352 1.41 61
30.78 15.83 10.47 37.39 36.06 1.81 5,345 1.39 63

11

183


8.

PT BARA

8.1.

15

0.70

8.2. (IEE)

8.2.1.
(ADB)(2003)B

IEE

IEE

184

PT BARA

f h

18IEE
PT Hatfield Indonesia
(IEE)

8.2.2.
12IEE

185

PT BARA

1)
2)

2)

1)

1)

2)

1)

1)
2)

3)

1)

2)
3)

(40

1)
2)

1)
2)

2)

1)

1)

12

186


9.

PT BARA

9.1.

(>15%-20%)
(10%
-15%)

(<10%)

13

13

187

PT BARA

9.2.
14

14
188

PT BARA

12

ROMA

10.

MontalatBeraiWarukin
33Warukin30o40o
10o25o

189

PT BARA

0.251.43JORC
26,3408,70511,537
6,097
JORC

%
(ar)

%
(adb)

%
(adb)


%
%
(adb) (adb)

%
(adb)



(adb)
(HGI)
(adb)

8.7

33.53

15.92

9.06

37.88

37.06

1.65

5,260

1.38

58

11.5

34.46

16.04

8.38

38.05

37.53

1.81

5,293

1.39

58

6.1

33.48

15.41

9.19

37.75

37.65

2.05

5,221

1.39

58

26.3

33.93

15.85

8.79

37.93

37.40

1.81

5,265

1.39

58

11.

(JORC)JORC

SRK Consulting (Australasia)Pty Ltd. JORC (Hong


LongBarito Timur-Central Kalimantan)
SRK Consulting (Australasia) Pty Ltd.PT Bara Utama Persada
Raya
PT Hatfield Indonesia
(IEE)
Harvey E. BelkinSusan J. Tewalt

Energy Publishing Pty Ltd.


http://www.coalportal.com/

http://www.investis.com/bp_acc_ia/stat_review_06/htdocs/reports/report_22.html
190

PT BARA




191

PT BARA

192

PT BARA




193

PT BARA

194

PT BARA

195

PT BARA





196

PT BARA




197

PT BARA

198

PT BARA

199

PT BARA

200

PT BARA

201

PT BARA

202

PT BARA

203

PT BARA

204

PT BARA

205

PT BARA





206

PT BARA




207

PT BARA




208

PT BARA




209

PT BARA




210

26
383806
(852) 2529 6878 (852) 2529 6806
info@roma-international.com
http://www.roma-international.com

KY/TR335/SEP10(a)

68
3008

Fastport Investments Holdings Limited100%


Fastport Investments
Holdings Limited
100%Ampah

CIMVAL

1.

211


2.

3.

3.1

20

(Badan Pusat Statistik)


20.4%7,131.3
29.3%

212

(Badan Pusat Statistik)


3.2

397,983
10.3%

9.3%

7%

213

4.

4.1

4.1.1

41%

4.1.2

214

2971

919

526

335

263

247

229

96

78

73

(International Energy Agency)

4.1.3

67.55EIA
1.7%

3500
3000

2500
2000
1500
1000
500
0

(United States Energy Information Administration)

215

4.1.4
9,090
1473,12540%
EIA32.59
25%

4.2

EIA5585%

142,000,000
68%24,000,000
EIA
118,000,000

(Indonesian Mining Association)


Mahyuddin Lubis130,000,000
19%155,000,000

135,000,00070%
30%

4.2.1

13%
Aburizal Bakrie

216

50

4.2.2

28

4493
(Indonesian Mining Association)

4.3

70%

1,14513%
BP 2010(BP Statistical Review of World Energy 2010)

(OCED)
7.4%
95%

164,830,000
30.9%15%19.03

84%

5.

5.1

PT Karya Dasar Bumi


99.00%PT Bara Utama Persada Raya
99.98%

217

Argus Media
ArgusCoalindo

5.2

Raren BatuahDusun
Tengah1931,050
(IUP 2009181(Izin Usaha Pertambangan,
IUP)4,093
5.3

153,8002,000,000

13

218


5.4

Roma Oil and Mining Associates LimitedROMA


Ampah
26,300,0008,700,00011,500,000
6,100,000

JORC

219

502
370
872

696
15
710
283
392
662
1,337
267
460
103
830
931
258
21
1,210
737
263
81
1,080

KU

KL

JORC

220

387
200
212
799
226
523
7
757
677
401

1,078
83
1,098
1,205
2,385
389
1,245
584
2,217
1,538
2,132
550
4,220
1,240
581
153
1,974
683
868
659
2,210

JORC

261
788
942
1,992
1,002
1,134
532
2,668
8,705
11,537
6,097
26,340

6.

7.

221

8.

222


8.1

8.2

8.3

8.4

223

8.4.1
DCF

PVCF = CF1/(1+r)1 + CF2(1+r)2 + ... + CFn/(1+r)n

PVCF =
CF =
r =
n =

Argus/Coalindo
Bloomberg

WACC

WACC = We x Re + Wd x Rd x (1 - Tc)

R e =
R d =
We =
W d =
T c =
224

8.4.2

8.4.3

Re = Rf + x+

R e =
R f =
=
8.4.4

7.68%
17.10%
9.42%

1.18

PT Adaro Energy, Tbk.ADRO.IJPT Berau Coal Energy, Tbk.


BRAU.IJPT Exploitasi Energi Indonesia, Tbk.CNKO.
IJPT Tambang Batubara Bukit Asam, Tbk.PTBA.IJ
5.00%
3.99%
27.80%
6.92%71.5%
25.00%
5.19%

225

41.71%58.29%
18.37%

8.4.5
18

18

450,000

900,000

900,000

1,200,000

1,500,000

1,800,000

Argus/Coalindo

7.5%

7.5%

7.5%

7.5%

6.5%

16,500,000

35,700,000

38,800,000

56,100,000


5,700,000

3,900,000
226

16,900,000

20,800,000

24,400,000

33,600,000

8.4.6

33.00%Milton Gelman
Journal of TaxationAn Economist-Financial Analysts
Approach to Valuing Stock of a Closely Held Company

8.4.7

DCF

2.0%
1.0%

+1.0%
+2.0%

16.37%
17.37%
18.37%
19.37%
20.37%

83,000,000
77,000,000
71,000,000
66,000,000
61,000,000

2.0%
1.0%

+1.0%
+2.0%

5.68%
6.68%
7.68%
8.68%
9.68%

70,000,000
71,000,000
71,000,000
72,000,000
72,000,000

-1.6%
-0.8%

+0.8%
+1.6%

()

-5.0%
-3.0%

+3.0%
+5.0%

28.00%
30.00%
33.00%
36.00%
38.00%

77,000,000
74,000,000
71,000,000
68,000,000
66,000,000

+7.5%
+4.5%

-4.5%
-7.5%

227

+16.9%
+8.1%

-7.4%
-14.1%

-5.0%
-3.0%

+3.0%
+5.0%

()

20.00%
22.00%
25.00%
28.00%
30.00%

70,000,000
70,000,000
71,000,000
72,000,000
73,000,000

-1.8%
-1.1%

+1.1%
+1.8%

()

72,000,000
72,000,000
71,000,000
71,000,000
70,000,000

+1.2%
+0.6%

-0.6%
-1.2%

()

75,000,000
73,000,000
71,000,000
69,000,000
68,000,000

+4.9%
+2.5%

-2.5%
-4.9%

()

72,000,000
72,000,000
71,000,000
71,000,000
70,000,000

+1.1%
+0.6%

-0.6%
-1.1%

-10.0%
-5.0%

+5.0%
+10.0%

1.66
1.75
1.85
1.94
2.03

-10.0%
-5.0%

+5.0%
+10.0%

-10.0%
-5.0%

+5.0%
+10.0%

7.09
7.48
7.88
8.27
8.66

23,900,000
25,200,000
26,500,000
27,800,000
29,200,000

228

()

50.98
52.05
53.66
55.27
56.34

61,000,000
65,000,000
71,000,000
77,000,000
82,000,000

-14.5%
-8.7%

+8.7%
+14.5%

()

-2.0%
-1.0%

+1.0%
+2.0%

93.00%
94.00%
95.00%
96.00%
97.00%

70,000,000
71,000,000
71,000,000
72,000,000
72,000,000

-1.8%
-0.9%

+0.9%
+1.8%

-5.0%
-3.0%

+3.0%
+5.0%

9.

229

Bloomberg

Argus/Coalindo

230

10.

11.

231

12.

(Indonesian Mining Association)

(Ministry of Energy and Mineral Resources of


Indonesia)

BP 2010
232

(World Coal Institute)

13.

14.

71,000,000

B.Eng., MBA, PhD, MIMMM, AusIMM, SPEC, CIM,


TMS, BGS, CGS, CEng, MICE, CPEng,
MIEAust, FCMA,ASCE, CSCE

CIM

Angela KwanTerry HuiWinnie Lam

26
383806
(852) 2529 6878
(852) 2529 6808
hermantso@roma-international.com
233

1990(Lakehead University)(B. Eng.)


1998(MBA)2002
(Ph.D.)


CIMVAL

1.

2.

3.

Rogers Pass

4.

DeWinton

5.

YellowknifeSNAP Lake

234

6.

ColomacLupin

7.

Ponoka

8.

Syncrude

9.

10.

11.

12.

235

161-167
21
3679-3829
3586-0683

236

512

237

238

68
3008

MBA BSc(EstMan) BSc MHKIS MRICS RPS(GP)

239

31,100,000

31,100,000

68
30053008

240

31,100,000

21,709
13

31,100,000

37,372.86
2
11
31
12
2

50

1.

(1996)126
21,70950

2.

41867654
186765518676561867657418,658.16
50

241

3.

40384176
038417703841780384179417,890.70

4.

122824

280,000

5.

20, 000,000

6.

7.

31,100,000

8.

(i)
(ii)
(iii)

9.

(i)

(ii)

(iii)

038417603841770384178 0384179
4

(iv)

242

1 1
1111
3

8,000

32,000
35,200

243

68
30053008

4
29 30 3

413

Man HingHong Land


Investment Company Limited

2
324,558

Man Hing Hong Land Investment Company Limited

244

31,000,000
36,816,000

245

31,100,000


1.

2.

6,000,000,000

300,000,000

3,811,926,789

190,596,339

20,000,000,000

1,000,000,000

3,811,926,789

190,596,339

8,702,702,702

(i)A
0.074
A(ii)
B
0.05B

435,135,135

(i)
A
0.074A
(ii)B
0.05
B

625,731,475

12,514,629,491

246


3.

(a)

XV
XV78

352

938,974,000

24.63%

1 938,974,000Early StateEarly State

XV
XV78

352
(b)

XV23

10%

247

Early State

938,974,000

24.63%

938,974,000Early StateEarly State

XV78

10%

4.

5.

6.

(i)

(ii)

248


7.

Roma Oil & Mining Associates Limited

Hiswara Bunjamin & Tandjung

8.

(a)

249

(b)

(i) Early State

0.106
317,000,000(ii)
Early StateEarly State
0.106

(c)

Early State(i)
(ii)
Early State0.153
317,000,000
Early State0.153

(d)

Fastport
PT Bara

(e)

294,000,000.00

(f)

Early State

Early State0.086
520,000,000
Early State0.086520,000,000

250


9.

10.
(a)

Clarendon House, 2 Church Street, Hamilton HM11,


Bermuda

(b)

68
3008

(c)

43

(d)

11.

683008
(a)

(b)

(c)

(d)

(e)

(f)

(g)

ABCPT KDBPT Bara

(h)

(i)

(j)

251

eFORCE HOLDINGS LIMITED


*

943

683008

1.

(A)

Smart Guard Limited


Gloss Rise LimitedLim Kim ChaiLow Thiam Herr
Low

a)

100Fastport Investments Holdings Limited


1.00

b)

PT Bara Utama Persada Raya


Low

AB

*
252

2.

(B)

A
B

(C)

14,000,000,0000.05
300,000,0001,000,000,000

68
3008

1.

2.

48
2826

3.

4.

253

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