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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
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