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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, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
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