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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- White Energy Company Limited
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
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