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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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Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
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