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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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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
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