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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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Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
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