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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 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
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- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
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