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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
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