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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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Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- White Energy Company Limited
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
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