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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, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
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- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
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