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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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Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Videocon Industries ltd - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Minerals Council of Australia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Trasteel International SA, Italy
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
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