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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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Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
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