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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Thursday, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
Handy
The Atlantic Supra market has continued its improving sentiment with rates climbing and TA´s are now up about US$ 900 w-o-w, said Fea ...
Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
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