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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- The University of Queensland
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- PTC India Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
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