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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
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- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Minerals Council of Australia
- Australian Coal Association
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
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