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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, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
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