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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
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