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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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Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
Thursday, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
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- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Australian Coal Association
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- PTC India Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
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