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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
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