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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
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