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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- The University of Queensland
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
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