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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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Wednesday, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
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