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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
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