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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, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
Wednesday, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
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- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
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