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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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Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
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