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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, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
Thursday, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
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- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- White Energy Company Limited
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
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