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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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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
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