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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, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Semirara Mining Corp, Philippines
- Planning Commission, India
- Australian Coal Association
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
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