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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
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