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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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Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- VISA Power Limited - India
- Australian Coal Association
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
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