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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, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
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