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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, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
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- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- PTC India Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
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