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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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Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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