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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
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- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Planning Commission, India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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