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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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Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
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