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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- The University of Queensland
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
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- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
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- Cement Manufacturers Association - India
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- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
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- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
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- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
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- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
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- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
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- Neyveli Lignite Corporation Ltd, - India
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- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
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