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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
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