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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Commonwealth Bank - Australia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
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