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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, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Australian Coal Association
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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