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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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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
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