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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
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- Bhatia International Limited - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
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