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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- PTC India Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Interocean Group of Companies - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- The University of Queensland
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
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