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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
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