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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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Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- VISA Power Limited - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
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