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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, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- The University of Queensland
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
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