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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Aditya Birla Group - India
- VISA Power Limited - India
- Australian Coal Association
- Planning Commission, India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
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