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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- White Energy Company Limited
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
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- The University of Queensland
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- Banpu Public Company Limited - Thailand
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- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
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- Bangladesh Power Developement Board
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- Ambuja Cements Ltd - India
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- The State Trading Corporation of India Ltd
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- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
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- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
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- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
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