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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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Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
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