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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, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Agrawal Coal Company - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
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