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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, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
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- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
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