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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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Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
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- PTC India Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
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