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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, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Minerals Council of Australia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
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