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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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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
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