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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- The University of Queensland
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
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