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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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Wednesday, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
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