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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, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
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- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
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