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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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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Star Paper Mills Limited - India
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