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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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Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- White Energy Company Limited
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Planning Commission, India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
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