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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
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