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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Parliament of New Zealand
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- The University of Queensland
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
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