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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, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- The University of Queensland
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
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