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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
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