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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- Planning Commission, India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
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