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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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Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
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- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Minerals Council of Australia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
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