JAKARTA: Reignwood International Investment (Group) Company Limited has pledged 6.4 billion shares, or nearly 16% share of the total shares of oil and gas company PT Energi Mega Persada Tbk, which is controlled by the Bakrie family to The Siam Commercial Bank Public Company Limited.However, no definite explanation on the purpose of stock warrant as agreed on 19 May.In the midst of the stock warrant, Energi Mega actually jumped 8.25% to IDR210 per share on Wednesday. Energi Mega shares post a gain of 25% in last month.Assuming a price of IDR210, Reignwood has pledged shares of Energi Mega IDR1.34 trillion.The two executives who know exactly about information said Reignwood is likely to dispose Energi Mega shares which pledged by the shareholders from some creditors by using Siam Banks loan facility."This step [Reignwood] is similar to the previous case when PT Bakrie & Brothers Tbk and Long Haul Holdings Ltd collected shares of PT Bumi Resources Tbk from a number of creditors before those were finally transferred to the Bumi Plc," said the executive told Business 2 days ago.Reignwood Investment, is part of Thailand-based Reignwood Group which was founded in 1984 by Chanchai Ruayrungruang, Thailand and China half-breed businessman who has extensive and strong business partners in China.Reignwood is now a multinational corporation with four business sectors such as consumer goods, modern service industry, sports, arts and culture, and investment and financial services. One such company of Reignwood is Red Bull Vitamin Drink Company Limited in China.Head of Investor Relations Energi Mega Herwin Hidayat said he didn't know the investors profile behind Reignwood. "We just got a letter from them and immediately forward it to the capital market, to comply with information disclosure regulation."Per Maret 2011, keluarga Bakrie memiliki 24,5% saham Energi Mega melalui PT Kondur Indonesia 9,30%, Bakrie & Brothers sebesar 8,54%, dan PT Brantas Indonesia sebesar 6,66% saham. Pada April, muncul nama CS AG (Spore) PT Kondur In sebesar 6,49%.As of March 2011, Bakrie family has a 24.5% Energi Mega stake through PT Kondur Indonesia of 9.30%, Bakrie & Brothers of 8.54%, and PT Brantas Indonesia of 6.66%. In April, there was CS AG (Singapore) PT Kondur In with an ownership of 6.49%."Who is the institutional investor who owns 16% shares in Energi Mega? How come Reignwood suddenly pledged Energi Mega shares to Siam Bank?," said an analyst from a local brokerage.A research analyst at PT Capital Price Deddy Ertanto said that there is a possibility if Reignwood has a close relation with Bakrie."Investors see the company's fundamentals are good from many aspects, such as financial reports, debt position, and Energy Mega including the lack of good in the market in the future, he said.Director of Bakrie & Brothers Bobby Gafur Umar, on May 25, said Bumi Plc has no plan to take over Energi Mega."Bumi Plc will not take over Energi Mega. However, Mr. Imam [Director of Energi Mega Imam Prio Agustino,] has already met with Rothschild three times. But so far there is no negotiation," he said. (15) (t03/msw)

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