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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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Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Deloitte Consulting - India
- White Energy Company Limited
- Australian Coal Association
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
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