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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- PTC India Limited - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
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