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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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Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- The University of Queensland
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
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