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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Parliament of New Zealand
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
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