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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, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
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- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- PTC India Limited - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
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