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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- VISA Power Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
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