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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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Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
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