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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- The University of Queensland
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
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