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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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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
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