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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Australian Coal Association
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
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