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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Latin American Coal - Colombia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
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