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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, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- The University of Queensland
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
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