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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Indian Energy Exchange, India
- PTC India Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- White Energy Company Limited
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Planning Commission, India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- The University of Queensland
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
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