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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Planning Commission, India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
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