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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- Australian Coal Association
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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