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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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Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- The University of Queensland
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
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