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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, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
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