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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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Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- London Commodity Brokers - England
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
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