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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
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