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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, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- PTC India Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
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