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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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Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
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