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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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Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
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- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
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