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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
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- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- VISA Power Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- White Energy Company Limited
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
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