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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, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
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