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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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Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Australian Coal Association
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
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