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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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Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- Latin American Coal - Colombia
- Mercator Lines Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
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