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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Planning Commission, India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
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