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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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Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
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