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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- The University of Queensland
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
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