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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, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
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- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
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- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
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- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
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- Indian Oil Corporation Limited
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- Aboitiz Power Corporation - Philippines
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- Mintek Dendrill Indonesia
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- The Treasury - Australian Government
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- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- ASAPP Information Group - India
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- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
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- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
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- Alfred C Toepfer International GmbH - Germany
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- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
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- Electricity Authority, New Zealand
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- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
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- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- The University of Queensland
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- Bhatia International Limited - India
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- Petron Corporation, Philippines
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- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Planning Commission, India
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- Binh Thuan Hamico - Vietnam
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- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
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- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Renaissance Capital - South Africa
- Indian Energy Exchange, India
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- Coastal Gujarat Power Limited - India
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- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
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