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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, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Planning Commission, India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
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