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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbung Energy & Metal on Friday approved the management’s plan to purchase a 23.8 percent stake in London-listed Bumi for $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- The University of Queensland
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
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