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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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