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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, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
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