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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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Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Australian Coal Association
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- The University of Queensland
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
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