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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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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
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