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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, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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Showing 5311 to 5315 news of total 6871 |
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- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- The University of Queensland
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
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