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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, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
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- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- The University of Queensland
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
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