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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
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