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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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Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
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- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
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