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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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Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Bhatia International Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Mjunction Services Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- The University of Queensland
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
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