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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, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
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