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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, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
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