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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, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- VISA Power Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
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