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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, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
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