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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
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