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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, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
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