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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, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
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- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
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- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
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- IHS Mccloskey Coal Group - USA
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- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
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- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Planning Commission, India
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- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Australian Coal Association
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
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