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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- The University of Queensland
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
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