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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
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