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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, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
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