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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
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- Chamber of Mines of South Africa
- MS Steel International - UAE
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Planning Commission, India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
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