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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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Friday, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Thursday, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
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- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
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