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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
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