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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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Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
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- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
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