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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
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