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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
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
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