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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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Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
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