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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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Sunday, 07 July 13
COAL PRICES REMAIN UNDER PRESSURE
COALspot.com – Coal swaps for the year 2014 indicate that, the pressure on coal prices will continue at least until next year. Ave ...
Friday, 05 July 13
THE DRY BULK MARKET IS GOING FROM STRENGTH TO STRENGTH - INTERMODAL
The Capesize sector has been one that has gone through a wild rollercoaster of emotions this past decade, ranging from the exuberance witnessed duri ...
Thursday, 04 July 13
CHALLENGER SIGNS FORMAL EXCLUSIVE MINING AND MARKETING AGREEMENT FOR ABBR PROJECT IN CENTRAL KALIMANTAN
COALspot.com - Challenger Deep Resources Corp., through its subsidiary PT Bestindo Energy has signed the formal exclusive Mining and Marketing agree ...
Thursday, 04 July 13
ASX LISTED QBL TO ACQUIRE INTERESTS IN MOZAMBIQUE COAL EXPLORATION LICENSES
- QBL to acquire interests in two Mozambique exploration licences prospective for coal
- Licenses located in the highly prospective Zambezi basin, ...
Thursday, 04 July 13
HANDY : INDO/CHINA, CHARTERERS RATING AROUND US$ 10,000 - FEARNLEYS AS
Handy
The Feast market firmed slightly up as mid-July cargos entered the market, but charterers seems not in hurry to cover them and looking for ch ...
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- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Australian Coal Association
- Goldman Sachs - Singapore
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Independent Power Producers Association of India
- The University of Queensland
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- White Energy Company Limited
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