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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
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