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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
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- Bhatia International Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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