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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
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