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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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Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
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