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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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Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
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- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- White Energy Company Limited
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