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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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Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Planning Commission, India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
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- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- The University of Queensland
- Tamil Nadu electricity Board
- PTC India Limited - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Minerals Council of Australia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
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