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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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Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
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- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
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