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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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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Australian Coal Association
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
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