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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
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