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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, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
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- Planning Commission, India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
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