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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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- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Parliament of New Zealand
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
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