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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, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
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