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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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Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
Tuesday, 06 August 13
UNLEASHING SHALE GAS POTENTIAL AS A GLOBAL ENERGY GAME CHANGER
In its 4th year running, the Annual Shale Gas Conference will bring leaders from North American shale gas operators, key Asian regulators, multi ...
Tuesday, 06 August 13
GBCE APPOINTS BENJAMIN WILEY AS NEW MANAGING DIRECTOR
COALspot.com : GB Clean Energy Ltd. (GBCE) announced today that Mr. Benjamin Wiley has been appointed as Managing Director.
Mr. Wiley has ...
Tuesday, 06 August 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS FALL 23.16 PERCENT ON WEEK TO 2.26 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 15.8 percent week on week to 2.26 million mt for ...
Monday, 05 August 13
PAPERLESS TRADING (ELECTRONIC BILLS OF LADING) - FREQUENTLY ASKED QUESTIONS ("FAQS") - UK P&I CLUB
A number of Members have contacted the Club with queries regarding the use of electronic bills of lading and any potential consequences for P&I ...
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- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Australian Coal Association
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
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