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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
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