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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, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
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- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
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