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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, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- The University of Queensland
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
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