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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, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- PTC India Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- VISA Power Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Agrawal Coal Company - India
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