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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
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- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
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