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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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Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
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