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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, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- PTC India Limited - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
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