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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Thai Mozambique Logistica
- The University of Queensland
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