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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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Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
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Showing 5211 to 5215 news of total 6871 |
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- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
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