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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, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
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- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
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