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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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Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
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