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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
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