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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, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
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- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
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