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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, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
Tuesday, 17 September 13
BUMA PRODUCED 3.57 PERCENT MORE COAL IN AUGUST
COALspot.com: BUMA has removed totaled 25.20 million bcm of overburden to produce 2.90 million tons coal in August 2013. BUMI produced 3.07 percent ...
Tuesday, 17 September 13
NEWCASTLE PORT SHIPPED ABOUT 27 PERCENT MORE COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 27.26 per cent week on week to 3.01 million mt for ...
Tuesday, 17 September 13
TAIPOWER INVITES BIDS FOR SUPPLY OF SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open tende ...
Tuesday, 17 September 13
ORPHEUS SECURES SIGNIFICANT INFRASTRUCTURE DEAL THROUGH ACQUISITION OF SOUTH KALIMANTAN PORT CAPACITY
COALspot.com : Orpheus Energy Limited (ASX: OEG) of Australia has today announced that, it has executed a binding agreement with the proprietor of S ...
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- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- MS Steel International - UAE
- PTC India Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Central Java Power - Indonesia
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