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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Planning Commission, India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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