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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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Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- The University of Queensland
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Economic Council, Georgia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
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