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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, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
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