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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- CNBM International Corporation - China
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
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