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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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Thursday, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
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