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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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Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Planning Commission, India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
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