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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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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- PTC India Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- The University of Queensland
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- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
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- MS Steel International - UAE
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- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
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- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
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- Antam Resourcindo - Indonesia
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- Merrill Lynch Commodities Europe
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- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
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- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
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