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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
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- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- The University of Queensland
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
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