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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
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- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
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- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
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- Ministry of Transport, Egypt
- The University of Queensland
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- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
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- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
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