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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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Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
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- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Parliament of New Zealand
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
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