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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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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
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