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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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Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
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- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
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