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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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Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Parliament of New Zealand
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