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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
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