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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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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Planning Commission, India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- The University of Queensland
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
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