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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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Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
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- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
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