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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Planning Commission, India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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