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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, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
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