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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, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Australian Coal Association
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
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