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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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Thursday, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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Showing 6031 to 6035 news of total 6871 |
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- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Anglo American - United Kingdom
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