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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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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
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- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
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- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
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- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
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