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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
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- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
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- Indonesian Coal Mining Association
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- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
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- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
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- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
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