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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
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