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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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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Planning Commission, India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
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