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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Tamil Nadu electricity Board
- The University of Queensland
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
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