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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, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Economic Council, Georgia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
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