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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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Sunday, 20 July 14
THE FREIGHT MARKET CONTINUED ITS DOWNWARD TREND
COALspot.com: The market continued its downward trend this week as all segments were down compared to last week. The Cape and Panamax indices being ...
Friday, 18 July 14
3RD CHINA INTERNATIONAL SHALE GAS SUMMIT
Building on the massive success of the past 2 shale gas programs that has generated huge success by attracting 500+ industry players, and intrig ...
Friday, 18 July 14
US WEEKLY COAL PRODUCTION UP BY 1.4% TO 18.3 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 17 July 14
PANAMAX : MARKET HAS COOLED DOWN AGAIN TO LOW AND DEPRESSED LEVELS
Handy
The supra market remains pretty flat in the Atlantic while for the smaller sizes there has been little reported with ships chasing business ...
Thursday, 17 July 14
INDIAN GOVERNMENT WISE TO TAKE ADVANTAGE OF CURRENTLY LOW THERMAL COAL PRICES AND SHIPPING RATES - JEFFREY LANDSBERG
With thermal coal import prices (and also shipping rates) very low at present, India's government would be very wise to take advantage of curre ...
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- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
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