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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, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
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