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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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Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
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