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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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Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
Wednesday, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see ho ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
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- Price Waterhouse Coopers - Russia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
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