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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
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- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
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- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
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- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
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- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
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- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
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- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
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- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
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