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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Economic Council, Georgia
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