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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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Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- London Commodity Brokers - England
- The University of Queensland
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
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