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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, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
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- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Bhatia International Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- SMC Global Power, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
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