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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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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Australian Coal Association
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
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