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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Parliament of New Zealand
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
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