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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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Monday, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
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- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
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