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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- The University of Queensland
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- PTC India Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
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