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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
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