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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
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