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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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Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
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- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
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