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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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Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
- Planning Commission, India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- The University of Queensland
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
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