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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
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