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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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Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- The University of Queensland
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
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