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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
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- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Planning Commission, India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Australian Coal Association
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
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