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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, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Australian Coal Association
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
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