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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, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- The University of Queensland
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
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