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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, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Mjunction Services Limited - India
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