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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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Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
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