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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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Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Parliament of New Zealand
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
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