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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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Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
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