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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
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