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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
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