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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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Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- PTC India Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
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