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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Posco Energy - South Korea
- The University of Queensland
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
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