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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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Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- ASAPP Information Group - India
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