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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, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Marubeni Corporation - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
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