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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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Thursday, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
Wednesday, 31 July 13
COAL GASIFICATION
IBC’s Coal Gasification conference explores the opportunities for coal gasification investment and development in Asia.
With depleting dome ...
Wednesday, 31 July 13
SUPRAMAX : THE PACIFIC BASIN WAS MOVING ON A POSITIVE PATH - EVA TZIMA
COALspot.com: Cape - Despite holding their ground fairly well early on in the week, Capes in the Atlantic basin gave in to the mounting pressure fro ...
Tuesday, 30 July 13
HARD COAL ON THE WAY TO BECOMING THE WORLD'S MOST IMPORTANT ENERGY SOURCE - VDKI
Press Release : Hard coal continued to be the world’s fastest-growing fossil primary energy source in 2012. It covered about 28% of the world ...
Tuesday, 30 July 13
WIJAYA TRI UTAMA PURCHASES MICROCOAL TECHNOLOGIES' CLEAN COAL UPGRADING FACILITY
- First MCI commercial scale application of proprietary microwave technology to upgrade coal thermal output and reduce pollutants
- MicroCoal to re ...
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- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
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