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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Australian Coal Association
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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