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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Merrill Lynch Commodities Europe
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- Meralco Power Generation, Philippines
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- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
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- Electricity Authority, New Zealand
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- Parry Sugars Refinery, India
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- Leighton Contractors Pty Ltd - Australia
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- Parliament of New Zealand
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- Global Coal Blending Company Limited - Australia
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- London Commodity Brokers - England
- Mjunction Services Limited - India
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- Baramulti Group, Indonesia
- Planning Commission, India
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- European Bulk Services B.V. - Netherlands
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- Jorong Barutama Greston.PT - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
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- Kumho Petrochemical, South Korea
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- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
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- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
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- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
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- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- White Energy Company Limited
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- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
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- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
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- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
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- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
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- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
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- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
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- India Bulls Power Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
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