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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
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