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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
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