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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, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
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- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- White Energy Company Limited
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
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