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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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Friday, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
Friday, 10 October 14
U.S. PRODUCED 83.2 MMST OF COAL IN SEPTEMBER, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.6 million short tons (mmst) of coal in ...
Thursday, 09 October 14
CAPESIZE MARKET HAS CONTINUED TO SHOW WEAKNESS - FEARNLEYS
Handy
We mentioned last week that after several weeks of rate increase for the Supras, the bigger Panamaxes started to snap up better paying Supr ...
Thursday, 09 October 14
SHIPPING REMAINS CHALLENGED AS GLOBAL GROWTH DISAPPOINTS - BIMCO
The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. ...
Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL
The Dry Bulk market remained under pressure last week, with rates for Capes remaining on the red while those for Panamaxes managed to outperform th ...
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- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- PTC India Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
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