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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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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
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