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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, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
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- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Central Electricity Authority - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
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