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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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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- PTC India Limited - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
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