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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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Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- PTC India Limited - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Planning Commission, India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
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