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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, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
Monday, 05 May 14
SUB BIT-FOB INDONESIA COAL SWAPS LOST GROUND LAST 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 ...
Monday, 05 May 14
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q3 14 DELIVERIES: LOST 0.82% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 0.82 percent month on month and closed at US$ 75.20 per mt as o ...
Sunday, 04 May 14
INDONESIA TO INDIA FREIGHT RATES ARE SHOWING POSITIVE TREND
COALspot.com: The freight market is seems to be some recovery as cape index has increased by 7.84 pct week on week. Cape index closed at 1829 po ...
Friday, 02 May 14
ADARO ENERGY STARTS YEAR 2014 WELL DESPITE CURRENT MARKET CONDITIONS
COALspot.com: Adaro Energy, the second largest Indonesian coal miner's revenue increased 14% to US$ 845 million due to higher sales volume, ...
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- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
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