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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
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