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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, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
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- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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