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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- The University of Queensland
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
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