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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
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