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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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Thursday, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
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