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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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Tuesday, 08 September 09
INDONESIA OFFERS AN OPPORTUNITY TO INDIANS
Meri News reported that, Indonesia is all set to launch the country's second 10,000 MW accelerated power expansion programme. The new power develop ...
Tuesday, 08 September 09
BUKIT ASAM AIMS 14 MLN TONS COAL PRODUCTION
VIVA News reported that, The rise in coal production is mainly triggered by the step-up in domestic demand.
Coal mining company PT Tambang Batuba ...
Tuesday, 08 September 09
MERCHANT BANKERS ADVISE CIL ON INDONESIAN MINE BUYS
Business Standard reported that, State-owned Coal India Ltd (CIL) is being advised by four to five merchant bankers on acquisition of coal assets in ...
Tuesday, 08 September 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 - PRESS RELEASE
The 3rd Asia Pacific Coal Trading & Investment Outlook 2009
Analysis of Asia Coal Market amid Global Financial Crisis
COALspot.com(Chin ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL EXPORTS MAY RISE ON SALES TO INDIA
Bloomberg reported that, South African coal exports may rise to 100 million metric tons a year by 2020 and India may become the biggest destination ...
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- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
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