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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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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
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