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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
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