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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
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