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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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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
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- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
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