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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, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
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- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
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- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
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- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- The University of Queensland
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
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- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
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- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
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