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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, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Independent Power Producers Association of India
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