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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Heidelberg Cement - Germany
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Minerals Council of Australia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
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