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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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Thursday, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whe ...
Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
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- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
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