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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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Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
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- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
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