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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
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