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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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Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
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