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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
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