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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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Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
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