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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- PTC India Limited - India
- The University of Queensland
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
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