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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
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