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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
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