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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
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Planning Commission, India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
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