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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- The University of Queensland
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
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