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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, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
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