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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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Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
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- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
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