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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
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- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
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- Interocean Group of Companies - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
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- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
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