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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, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
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