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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, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
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- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
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