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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, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
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