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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, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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