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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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Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
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- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- White Energy Company Limited
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- The University of Queensland
- GMR Energy Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
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