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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, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
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